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`FV = "PMT" *( (1+ "r" )^t / "r" - 1/ "r" )`

Enter a value for all fields

The **Future Value of an Ordinary Annuity** calculator computes the future value (FV) of a fixed rate annuity based on a regular annuity payment, a fixed rate of return and a number of periods.

**INSTRUCTIONS:** Choose units and enter the following:

- (
**PMT**) regular annuity payment - (
**r**) fixed interest rate of return period - (
**t**) number of periods defining the duration.

**Future Value (FV):** The calculator returns the Future Value in U.S. dollars. However, this can be automatically converted into other currency units (e.g Canadian Dollars) via the pull-down menu.

The formula for the future value of an ordinary annuity is:

`FV=PMT * ( ((1+r)^t)/r − 1/r)`

where:

- FV = Future Value
- PMT = regular annuity payment
- r = percent rate of return per period
- t = number of periods.

This formula calculates the future lump-sum value of of an annuity paid in fixed payments (**PMT**) based on a fixed interest rate (**r**) over a number of payments (**t**). This formula could help an investor decide if they should accept a fixed payment of $20 each month for two years or $500 in a lump sum at the end of the two year period.

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