Calculators

Annuity Calculator

Calculate an annuity's future value, present value or payment for ordinary annuities and annuities due.

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About this tool

An annuity is a series of equal payments made at regular intervals, and this annuity calculator solves the four most common problems. Future value: how much regular deposits grow to. Present value: what a stream of future payments is worth today. Payout from a lump sum: how much you can withdraw each period until the money runs out. Payment needed for a goal: how much to save each period to reach a target. Choose what to calculate, enter the amount, annual interest rate, number of years, payments per year (monthly, quarterly, semi-annually or annually) and whether payments happen at the end of each period (an ordinary annuity) or at the start (an annuity due). The result shows the answer, the total paid in or out, the interest, the number of payments and the formula used. Interest compounds once per payment period. Taxes, fees and insurance-company annuity charges are not included. It runs in your browser.

Why use it

  • Four calculations in one: future value, present value, payout and required payment.

  • Ordinary annuity or annuity due, selected with one option.

  • Monthly, quarterly, semi-annual or annual payments.

  • Totals and interest shown with every answer, plus the formula and the number of payments.

  • Runs privately in your browser.

How to use

  1. Choose what to calculate: future value, present value, payout from a lump sum, or payment needed for a goal.
  2. Enter the payment, lump sum or goal amount.
  3. Enter the annual interest rate and the number of years.
  4. Pick the payments per year and whether payments are made at the end or start of each period, then read the result.

When it helps

  • Projecting what monthly retirement contributions could grow to.
  • Estimating the monthly income a lump sum could pay over 20 or 25 years.
  • Valuing a pension, lottery or settlement paid in instalments.
  • Finding the monthly saving needed to reach a target by a deadline.

Examples

Future value of monthly saving

Input

500 per month, 6%, 20 years, end of period

Expected result

Future value 231,020.45; paid in 120,000.00; interest 111,020.45 (232,175.55 as an annuity due)

Payout from a lump sum

Input

250,000, 5%, 25 years, monthly

Expected result

Payment 1,461.48 per month; total paid out 438,442.53

Saving for a goal

Input

Goal 100,000, 7%, 15 years, monthly

Expected result

Payment needed 315.49 per month

Tips

  • Use a 0% rate to see the plain total of payments with no interest.
  • Switch between end and start of period to see how much timing alone changes the result.
  • For a target that already has some savings, subtract the future value of those savings from the goal first.

Frequently Asked Questions

What is the future value of an annuity?
The total that regular payments grow to with interest: FV = PMT × ((1 + i)ⁿ − 1) ÷ i, where i is the rate per period and n the number of payments. Saving 500 a month for 20 years at 6% grows to 231,020.45.
What is the present value of an annuity?
What a series of future payments is worth today: PV = PMT × (1 − (1 + i)⁻ⁿ) ÷ i. Twenty yearly payments of 1,000 at 5% are worth 12,462.21 today.
What is the difference between an ordinary annuity and an annuity due?
Payments in an ordinary annuity are made at the end of each period; in an annuity due they are made at the start. An annuity due earns one extra period of interest, so its values are multiplied by (1 + i).
How much will a lump sum pay each month?
Use Payout from a lump sum. 250,000 at 5% for 25 years supports monthly payments of 1,461.48, after which the balance reaches zero.
How often does interest compound?
Once per payment period, so monthly payments use monthly compounding at the annual rate ÷ 12. If your product compounds differently, results will differ slightly.
Does it include fees or taxes?
No. Insurance annuity contracts can carry fees, surrender charges and tax rules that are not modelled. Treat the results as an educational estimate, not financial advice.

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Glossary

Annuity
A series of equal payments at regular intervals.
Annuity due
An annuity whose payments are made at the start of each period.
Present value
The amount today that is equivalent to future payments at a given interest rate.
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