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Present and future value calculator

Find what money is worth today or later, with an optional regular payment.

Your numbers

Calculate

For future value, the amount you have today. For present value, the amount you will receive at the end.

Match the periods: a yearly rate for yearly periods, a monthly rate for monthly periods

Optional amount paid in or received every period

Payment timing

Results

Future value

$31,089.27

This is what your lump sum and payments grow to at 6% per period over 10 periods.

How we calculated this

From the lump sum
$17,908.48
From the payments
$13,180.79
Total of payments
$10,000.00Payment × number of periods
Interest earned
$11,089.27

Value by period

Saving and PDF download use a free account. Everything else works without one.

How it works

Money can earn a return, so an amount today grows into a larger amount later, and an amount promised later is worth less today. Future value grows a lump sum and any regular payments forward at your rate. Present value does the reverse, discounting future amounts back to today.

Formula

  • r = rate per period ÷ 100, n = number of periods
  • FV = lump sum × (1 + r)^n + payment × ((1 + r)^n − 1) ÷ r
  • PV = lump sum ÷ (1 + r)^n + payment × (1 − (1 + r)^−n) ÷ r
  • Payments at the start of each period: multiply the payment part by (1 + r)

Frequently asked questions

What is the time value of money?

It is the idea that money you have now is worth more than the same amount later, because you could invest it in the meantime. Present and future value put amounts at different dates on the same footing so you can compare them.

Which rate should I use?

For future value, use the return you expect to earn. For present value, use the return you could get elsewhere with similar risk, often called the discount rate. Make sure the rate matches the period length, such as a monthly rate for monthly periods.

Does it matter if payments are at the start or end of a period?

Yes. A payment at the start of each period has one extra period to grow, or one less period of discounting, so the value is higher. Rent and many savings plans are paid at the start; loan repayments are usually at the end.

Why is the present value lower than the amount I will receive?

Waiting has a cost. If you had the money now, you could earn a return on it. The present value is the smaller sum that, invested at your rate, would grow into the future amount.

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Results are estimates only, not financial advice. Read the disclaimer.