To calculate the FV Factor of 3 percent interest (i) and 10 periods(n), we used the following formula:|
FV Factor = (1 + i)^n
When we enter 3 percent and 10 periods into our FV factor formula, we get:
FV Factor = (1 + 0.03)^10
Which equals a FV Factor of:
Now you can multiply the FV Factor with any present amount to get the future value, like this:
FV = PV Amount x FV Factor
For your convenience, you can enter your Present Value (PV) amount below and press "Calculate".
We will then multiply your amount with the FV Factor above and give you the Future Value Answer.
Remember that the number you enter in the box above is the present value, and the result displayed in green is the future value which should be MORE than the present value.
Also note that we rounded all dollar-amount answers to two decimals.