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# Future Value of a Graduated Annuity Due Calculator

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.

## Example 1

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.

Value Keystrokes Display Description
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.

## Example 2

For example 1, if you need the future value to be \$7,000, what base payment is needed?

Value Keystrokes Display Description
7000 FV 7,000.00 Stores the FV value.
PMT -1045.20 Calculates the PMT value.

## Reference:

Graduated Annuities Using Excel - TVMCalcs.com