How this calculator works
All five values are linked by one equation: PV × (1 + i)ⁿ + PMT × ((1 + i)ⁿ − 1) ÷ i + FV = 0.
Use the cash-flow sign convention: money you pay out (a deposit, an investment) is negative and money you receive is positive.
I/Y is the rate per period and N the number of periods. For monthly payments, use the monthly rate and the number of months.
N and I/Y have no simple formula, so they are found numerically, exactly as financial calculators do.
Worked example
Invest $10,000 now and $500 a year at 6% for 10 years
- Enter PV −10,000, PMT −500, I/Y 6, N 10, and solve for FV.
- FV = $24,498.87.
- The positive sign means it is money you receive at the end.
Questions people ask
Why is my answer negative?
Because of the sign convention: if you entered amounts you receive as positive, the solved value is something you pay. Flip signs to match your situation.
How do I do monthly loan problems?
Set N to the number of months and I/Y to the annual rate divided by 12. A $200,000 loan is PV +200,000 and PMT is the negative payment.
Are payments at the start or end of each period?
End of period (an ordinary annuity), the usual default. For payments at the start, the future value calculator has a start-of-year option.
Who uses TVM calculations?
Finance students, CFA and CFP candidates, and anyone comparing loans, savings plans or investments.
Last reviewed October 2, 2026