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Future Value Annuity Payment Calculator to Achieve Savings Goal

Calculator Preferences
Future Value Annuity Payment Calculator Sign
Future Value Annuity Payment Calculator

This calculator will calculate the future value of a lump sum and then use the appropriate annuity factor to calculate the periodic annuity payment needed to bridge the gap between the future value of your present savings and your future savings goal. The results include a year-to-year future value table so you can see how your present savings, combined with your annuity payments, will grow achieve your savings goal. The Learn tab includes:

  • Combining two future value calculations.
  • What is FV of an annuity factor?
  • Closing the savings gap.
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Type:Type of annuity:Type of annuity:Type of annuity:

Type of annuity:

Select the type of annuity. An Annuity Due indicates payments are made at the beginning of each period, whereas an Ordinary Annuity indicates payments are made at the end of each period.

FV goal:Future value goal:Future value or savings goal:Future value or savings goal:

Future value or savings goal:

Enter the total of the amount you wish to have saved to achieve your goal. Enter as a dollar amount, but without the dollar sign and any commas. If none, leave blank or enter a zero.

# of yrs:Number of years:Number of years to achieve goal:Years to achieve future value or savings goal:

Years to achieve future value or savings goal:

Enter the number of years within which you would like to achieve your savings goal.

Present value:Present value:Present value or current savings:Present value or current savings:

Present value or current savings:

Enter the lump sum amount you currently have in an interest bearing account. Enter as a dollar amount, but without the dollar sign and any commas. If none, leave blank or enter a zero.

Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual interest rate to be used for the future value calculations. Please enter as a percentage, but without the percent sign (for .06 or 6%, enter 6). Note that the calculator will convert the annual interest rate to the rate that corresponds to the payment frequency. For example, if you selected a monthly payment frequency, the future value annuity payment calculator will divide the annual rate by 12 and compound the interest accordingly.

Interval:Deposit interval:Preferred saving deposit interval:Preferred payment (saving deposit) interval:

Preferred payment (saving deposit) interval:

Select the interval you would prefer for making the calculated annuity payments.

Saved FV:Saved future value:Future value of current lump sum:Future value of current lump sum:

Future value of current lump sum:

Based on your entries, this is the future value of the current balance of your interest earning account.

Shortfall:Savings gap:Future value shortfall (savings gap):Future value shortfall (savings gap):

Future value shortfall (savings gap):

Based on your entries, this is difference between the future value of the current balance in your account and your savings goal. The calculator will use this figure to calculate the periodic payment/deposit needed to make up for the shortfall.

Factor:Annuity factor:Annuity factor:Annuity factor:

Annuity factor:

Based on your entries, this is the future value of an annuity factor for a series of $1 deposits made into an account earning the entered interest rate, and for the entered number of payment periods. The calculator divides the savings gap by this factor in order to arrive at the periodic annuity payment needed to bridge the savings gap.

Pmt needed:Payment needed:Payment needed to eliminate shortfall:Annuity payment needed to eliminate shortfall:

Annuity payment needed to eliminate shortfall:

Based on your entries, this is the periodic payment/deposit you will need to make into your account in order to achieve your savings goal within the desired time frame.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

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About

About the Future Value Annuity Payment Calculator

This calculator will calculate the future value of a lump sum you have in an interest earning account, and then calculate the periodic annuity payment needed to make up the difference between that and your future savings goal.

Plus, unlike many other online annuity calculators, this calculator will calculate annuity payments for either an ordinary annuity, or an annuity due, and display a year-to-year growth schedule so you can see how the present value of your account will grow to achieve your future savings goal.

If you're not sure what future value is, or you wish to calculate future value for a lump sum, please visit the Future Value of Lump Sum Calculator.

Or, if you're not sure what an annuity is, or you wish to calculate future value for a series of cash flows, please visit the Future Value of an Annuity Calculator.

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Instructions

How to use the Future Value Annuity Payment Calculator

Step #1:

Select either Annuity Due or Ordinary Annuity from the drop-down menu.

Step #2:

Enter the amount you would like to have saved within the desired time frame.

Step #3:

Enter the number of years between now and when you would like to achieve your savings goal.

Step #4:

Enter the annual rate of return you expect to earn from your investment.

Step #5:

Select the your preferred interval for making deposits to your goal account.

Step #6:

Tap the "Calculate Payment Needed" button. This will display the calculated future value of your present savings, the shortfall, the payment needed to eliminate the shortfall, and a year-to-year growth chart.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

Scrolling & Shrinking:

In order to scroll the calculator vertically you will need to swipe just outside of the calculator's dark-blue border, or use the window's far right-hand scroll bar, whichever is applicable to your device.

If the top section of the calculator becomes to tall for your viewport, tapping in the "Enter a problem..." field should reset the top section to its original height.

Disclaimer:

The Algebra Calculator is the only calculator on the site that I did not create myself. And since I did not create it, I don't have access to the code for fixing any issues you may be experiencing. So if you are having issues with the calculator, please visit the support page at Mathway.com for assistance.

Glossary

Fields, Terms, and Definitions.

Reset button:

Clicking the "Reset" button will restore the calculator to its default settings.

Pocket Calculator

Calculate any amounts needed to enter into calculator.

 

Data Management

Save and retrieve entries and notes (requires HTML5 compliant web browser).

Calculator Data

Calculator Data:

If you are using the latest version of your web browser software, this feature will allow you to save your calculator entries to your web browser's local storage in between visits. This means the calculator entries can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save data between devices you will need to subscribe to the Ad-Free Member Version.

Save: To save a new set of calculator entries, select "New Data Record" from the dropdown list, enter a nickname for the data record, then click the "Save" button.

Load: To load a previously saved set of calculator entries, simply select the name of the data record from the dropdown list.

Save Changes: To save changes to a set of previously saved calculator entries, be sure the name of the data record is selected, and then click the "Save" button.

Clear: To clear a saved set of entries, be sure the name of the data record is selected, and then click the "Clear" button.

Backup Data
My Notes:
Subscribe to the Cloud level of the Ad-Free Member Version to save your entries and notes to a secure online database, allowing you to access your saved entries from any device or web browser.

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Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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