This free online Future Value Annuity Payment 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 yeartoyear growth schedule so you can see how the present value of your account  when combined with your annuity payments  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.
In order to determine if the amount you currently have in an interest earning account will be enough to meet a future savings goal, you would need to use future value of a lump sum calculations. If it turns out that the future value of your lump sum balance is enough to achieve the goal, no further calculations would be necessary.
On the other hand, if the future value of your current balance turns out to be less than your future savings goal (referred to as a savings gap), you would then need to use the future value of an annuity calculation to calculate how much and how often you would need to add to the account in order to make up for the shortfall.
For our purposes, the future value of an annuity factor is equal to the future value of a series of $1 deposits, which is calculated as follows:
For example, for a series of $1 deposits made at the end of each year into an account earning 8% annual interest for a period of 10 years, the annuity factor would be equal to (1 + .08) to the 10th power (1.08 x 1.08 x 1.08 ...), or 14.487.
Once you have determined the gap between the future value of your present savings balance and your future savings goal, and you have calculated the future value of an annuity factor, all that remains is to divide the savings gap by the annuity factor. The result is the periodic annuity payment required to close the savings gap, thereby enabling you to achieve your future savings goal.
With that, let's use the Future Value Annuity Payment Calculator to calculate the savings gap, annuity factor, and required periodic annuity payment related to achieving your future savings goal.

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