Future Value Annuity
Future Value Annuity: What is your annuity worth
when it matures?
As you are putting in money on a regular basis, with interest, what is the final amount you will have at the end?
Here are some examples and calculators to use...
Let's say that you are paying $10,000 a year into a 10 year annuity at 8% interest.
Use the lower right calculator here. Your $10,000 at 8% interest for 10 years gives you $144,865.62 at the end of the term.
That's was easy. Let's try some others.
Let's say you plan to put $25 a month into your savings for 5 years. What will that give you if the expected interest is 3%?
Again, use the lower right calculator.
$25 for 12 months = $300. Insert that figure for the payment amount at 3% for 5 payments. Then calculate.
You will have saved $1,592.74
Note: This amount can change depending on when, and how often, the interest on your funds is compounded.
If you want to know the flip-side...
Such as how to get $10,000 in your account at the end of 5 years. And let's say the account gets 4% interest compounded annually...
How much do you deposit each month?
The savings goal calculator will work for this which is fully explained here.
If you are looking for an annuity for your financial planning, or want further options, ask us...
Get a free annuity quote - let us help guide you through the options to make the best choices for you!
Or, get a free consultation from a Certified Financial Planner to go over your plans to help you make the best decision for your needs. "You'll be glad you did the right thing."
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