Future Value Calculator
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The future value is $832.59.
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2. Initial Value: is the amount already in the account at the beginning.
3. Interest Rate%: is the interest paid at the end of each period. (Not annualized.)
4. Periods: is the number of periods. Interest is paid and deposits are made at the end of each period.
5. Deposit: is the amount to be deposited at the end of each period.
6. User input can be any constant statement using only numerics and +, -, *, and /. For example 6/12
could be entered to convert an annualized 6% rate into a monthly rate.
Example: You have $100 in an account paying 6% annualized.
If you deposit $10 per month for the next 5 years how much money will be in the account?
Initial Value = 100; Interest Rate% = 6/12 (Converts 6% annualized rate to monthly. (.5%))
Periods = 5*12 (60 monthly periods in 5 years); Deposit = 10