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Annuity Calculator
See the future value of a starting balance plus regular contributions growing at a fixed rate, and watch the balance build over time. Enter your numbers and press Calculate.
Written by TopicDrill Editorial Team·Updated June 2026
Balance over time
Balance Contributed
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How the annuity calculator works
During the accumulation phase, an annuity grows in two ways. Your starting balance earns interest, and each monthly contribution you add starts earning interest of its own. The calculator compounds month by month, so contributions made early have more time to grow, which is why the chart curves upward and gets steeper near the end.
You can also choose when contributions land. With payments at the end of each period you have an ordinary annuity. With payments at the start you have an annuity due, which earns one extra period of interest and finishes a little higher.
A quick example
Start with $10,000, add $300 a month, and let it grow at 5% a year for 25 years. The balance reaches roughly $230,000. Of that, about $100,000 is the money you put in and the rest is interest, a clear picture of how steady saving compounds.
Things to keep in mind
This is a fixed rate estimate that leaves out fees, taxes and inflation, so real results will differ. Commercial annuity products also have their own terms and charges. For consumer guidance on annuities, the Consumer Financial Protection Bureau is a reliable source. To plan the income phase, see our annuity payout calculator.
Frequently asked questions
What is an annuity?
An annuity is a series of equal payments made at regular intervals. In the accumulation phase you pay into it, and the balance grows with interest. This calculator shows the future value of that growing balance over time.
What is the future value of an annuity formula?
For an ordinary annuity, FV = PMT × ((1 + i)^n − 1) / i, where PMT is the payment, i is the rate per period and n is the number of periods. Any starting balance is compounded separately as P × (1 + i)^n and added on top.
What is the difference between an ordinary annuity and an annuity due?
An ordinary annuity makes each payment at the end of the period, while an annuity due makes it at the start. Because money goes in earlier, an annuity due earns one extra period of interest and ends with a slightly higher balance.
Are the results guaranteed?
No. The calculator assumes a fixed rate that never changes and ignores fees, taxes and inflation. Real annuity products and investments vary, so treat the result as an estimate for planning rather than a promise.
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