# Future Value of Growing Annuity Calculators – Ordinary Growing Annuity and Growing Annuity Due

The future value of a growing annuity is the amount of money you end up with after a series of increasing payments, where each payment is increasing at a specified growth rate (i.e. each payment is 5% larger than the last payment). It is useful in financial applications, such as retirement planning, as it allows you to quickly determine the amount of money you will end up with at some date in the future, given a steady interest rate and periodic payments that are increasing at a steady growth rate. There are two types of growing annuities, ordinary growing annuities, where payments are made at the end of the period, and growing annuities due, where payments are made at the start of the period. Using the calculators below, you can solve for any of the variables in either formula, and see how your savings accumulate each period in the chart at the bottom of the page.

# Select the Future Value of an Annuity Calculator you want to use

## Ex. Unknown Future Value (FV)

To find the unknown future value (FV) of a Growing Ordinary Annuity (or a Growing Annuity Due), where the periodic payment (PP) is \$100.00, the interest rate (i) is 7%, the growth rate (g) is 3% and the number of periods (n) is 5, enter:

 PP = 100 i = 0.07 g = 0.03 n = 5

# Calculate Future Value - Growing Ordinary Annuity (FV)

## Ex. Unknown Periodic Payment (PP)

To find the unknown periodic payment (PP) of a Growing Ordinary Annuity (or a Growing Annuity Due), where the future value (FV) is \$500.00, the interest rate (i) is 7%, the growth rate (g) is 3% and the number of periods (n) is 5, enter:

 FV = 500 i = 0.07 g = 0.03 n = 5

# Calculate Periodic Payment - Growing Ordinary Annuity (PP)

## Ex. Unknown Interest Rate (i)

To find the unknown interest rate (i) of a Growing Ordinary Annuity (or a Growing Annuity Due), where the future value (FV) is \$500.00, the periodic payment (PP) is \$100.00, the growth rate (g) is 3% and the time (n) is 5, enter:

 FV = 500 PP = 100 g = 0.03 n = 5

# Calculate Interest Rate - Growing Ordinary Annuity (i)

## Ex. Unknown Growth Rate (g)

To find the unknown growth rate (g) for a Growing Ordinary Annuity (or a Growing Annuity Due) where the future value (FV) is \$500.00, the periodic payment (PP) is \$100.00, the interest rate (i) is 7% and the time (n) is 5, enter:

 FV = 500 PP = 100 i = 0.07 n = 5

# Calculate Growth Rate - Growing Ordinary Annuity (g)

## Ex. Unknown Number of Periods (n)

To find the unknown number of periods (n) for a Growing Ordinary Annuity (or a Growing Annuity Due), where the future value (FV) is \$500.00, the periodic payment (PP) is \$100.00, the interest rate (i) is 7% and the growth rate (g) is 3% enter:

 FV = 500 PP = 100 i = 0.07 g = 0.03