This Formula Calculator calculates the future value of series of payment that increase at a constant rate with the first payment at the beginning of period 0.
Formula: fv(fcRate / 100, fcNPer, 0, -pv((1 + fcRate / 100) / (1 + fcGrowth / 100) - 1, fcNper, fcPmt, 0, 1), 0)
FV / fcFv : The future value.
N / fcNper : The number of periods.
i% / fcRate : The periodic rate.
PMT / fcPmt : The base periodic payment at the beginning of period zero. This payment increases by g% each period.
g% / fcGrowth : The periodic growth rate of the payment.
You are going to deposit $1,000 into an account that pays 8%, and then increase the annual deposits by 5% for a total of 5 deposits. What will the amount of the account be in 5 years (future value), one year after the final deposit.
|5||N||5.00||Stores the N value.|
|8||i%||8.00||Stores the i% value.|
|-1000||PMT||-1,000.00||Stores the PMT value.|
|3||g%||3.00||Stores the g% value.|
|FV||6,697.17||Calculates the future value.|
For example 1, if you need the future value to be $7,000, what base payment is needed?
|7000||FV||7,000.00||Stores the FV value.|
|PMT||-1045.20||Calculates the PMT value.|