Future Value of Annuity Calculator
So let’s assume that “John Doe” is putting “x” amount of money away for retirement every period for a determined amount of time, deposited at the end of each period at “y” interest rate, compounded periodically.
Below, we are calculating Future Value of a series of payments after the chosen period in years has ended, using Excel Formula FV Function! Syntax FV(rate, nper, pmt, [pv], [type]).
For Lump Sum or Savings With Additional Contributions Calculator Click Here!
Why Should You find ways to invest your money?
Consistent investing over a long period of time can be an effective strategy to accumulate wealth. Even small deposits to a savings account with a reliable institution, can add up over time.
You see, financial independence doesn’t necessarily mean being rich, but not having to depend on receiving a certain pay check can surely make you feel rich.
Having savings that you can rely on is what it takes to become rich, no matter how you define it.
This compound interest calculator demonstrates how to put this savings strategy to work.
The measuring stick for being rich is different depending on who you talk to.
However, the one thing that the notion of “being rich or wealthy” means to most people is having financial independence and savings to depend on.
So following the above fundamentals with persistence and consistency, may help you archive just that.