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Calculate the Future Value Interest Factor of an Annuity (FVIFA) instantly. Enter your interest rate and periods to estimate the future value of regular investments with this free online calculator.
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Overview
Understand what the tool solves, how it works, and the boundaries of its data.
FVIFA means Future Value Interest Factor of an Annuity. It is a multiplier for a stream of equal payments made once per period. Enter the interest rate per period as a percentage and the number of periods; the calculator returns the factor, not a dollar balance or a recommended investment.
FVIFA(r, n) = ((1 + r)n − 1) ÷ r
Here r is the rate per period expressed as a decimal, and n is the number of periods. When r = 0, the factor equals n.
This is the future-value factor for an ordinary annuity, where equal payments are made at the end of each period. Multiplying the factor by a fixed payment amount gives the modeled future value under those assumptions. For example, 5% per period for 10 periods gives a factor of about 12.5779; a $100 end-of-period payment each period corresponds to about $1,257.79 before fees, taxes, or other adjustments.
The rate and period must use the same interval. If periods are months, enter a monthly rate and the total number of months. Do not enter an annual rate with a monthly period count unless you have first converted it to a monthly rate.
Guide
Follow the workflow and verify inputs and outputs with practical examples.
Type the percent value for one period. Enter 5 for 5%, not 0.05; the calculator converts the entered percentage to a decimal in the formula.
Use the count of matching payment periods. For monthly payments over 10 years, use 120 periods and the applicable monthly rate.
The displayed factor is rounded to four decimal places. The chart shows how the factor changes as periods increase for the rate you entered. Clear the fields to start another comparison.
Use cases
See how the tool fits into real work and everyday tasks.
A saver can model equal end-of-month contributions by entering the monthly rate and total months. Multiply the factor by the planned contribution to estimate the formula-based future value.
A student can compare a hand calculation or textbook table with the tool. Match the rate interval, period count, and end-of-period payment convention before comparing factors.
Q&A
Find concise answers to common questions and confusing cases.
No. The output is a factor. Multiply it by the equal payment per period to get the future value under the ordinary-annuity model.
That is an annuity due rather than an ordinary annuity. The timing changes the factor; this calculator's displayed FVIFA uses end-of-period payments.
Use a monthly rate and the total number of months. The rate entered must describe one period, not an annual rate paired with monthly periods.
The factor assumes equal payments, a fixed rate each period, and the stated payment timing. A real account may use different compounding, variable returns, fees, taxes, or contribution dates.
Notes
Review scope, result limitations, and important precautions before use.
This is a mathematical illustration, not a forecast, product quote, or investment recommendation. It assumes the entered rate remains constant and uses equal payments at period end. It does not include a starting lump sum, variable returns, inflation, taxes, fees, or product-specific rules. Treat any amount obtained by multiplying the factor by a payment as conditional on the assumptions you chose.
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