Total Contributions
$60,000.00
Annuity Calculator
Calculate future value or required payment for a fixed annuity.
Future Value
$81,939.67
Interest Earned
$21,939.67
How to use the Annuity Calculator
The Annuity Calculator is free and runs entirely in your browser — no sign-up, and nothing you enter leaves your device. It opens pre-filled with a realistic example, so you can see how it works before replacing any figure with your own; the results update as you type. Press Calculate to refresh the result panel, or Reset to return to the example.
The inputs it asks for:
- Solve For — choose one — Future Value, Required Payment.
- Periodic Payment — a dollar amount.
- Target Future Value — a dollar amount.
- Annual Interest Rate — a percentage (enter 6 for 6%).
- Years — a number.
- Annuity Type — choose one — Ordinary (End of Period), Annuity Due (Beginning).
The formula
A fixed annuity is a level payment stream earning a constant rate. The calculator either grows your payments to a future value, or solves for the payment that reaches a target — both from the standard future-value-of-an-annuity relationship:
FV = PMT · ((1 + r)ⁿ − 1) / r · (1 + r·type)- PMT
- the periodic (monthly) payment
- r
- the monthly rate = annual rate ÷ 12
- n
- the number of payments = years × 12
- type
- 0 for ordinary (period-end), 1 for annuity due (period-start)
"Annuity due" payments arrive one period earlier, so each earns an extra period of interest — raising the future value, or lowering the payment needed to hit a target. Solving for the required payment simply inverts the same formula for PMT.
Worked example
Using the example values — Solve For Future Value, Periodic Payment $500.00, Target Future Value $0.00, Annual Interest Rate 6%, Years 10, Annuity Type Ordinary (End of Period) — the Annuity Calculator returns a Future Value of $81,939.67. It also reports Total Contributions ($60,000.00), Interest Earned ($21,939.67).
Prefer your own numbers? Change any field above and this recomputes instantly.
Key terms
- Annuity
- A series of equal payments made at regular intervals.
- Ordinary annuity
- Payments at the end of each period (most loans, many savings plans).
- Annuity due
- Payments at the start of each period (rent, some insurance premiums).
- Future value of an annuity
- What the whole payment stream grows to by the end.
Frequently asked questions
Ordinary annuity vs annuity due?
Timing. Due payments happen at the start of each period and so earn one more period of growth; ordinary payments happen at the end. For the same payment, an annuity due always yields a slightly higher future value.
Is this the same as an insurance annuity product?
No. This is the time-value math of a level payment stream. A commercial annuity contract layers on fees, options and guarantees that this doesn't model.
How is the required payment found?
By inverting the future-value formula for PMT — the deposit that, compounded at your rate for the term, lands exactly on the target.