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Finance Calculator

Amounts
Settings
P/Y (periods per year)
PMT made at
FV (future value)
$47,526.55
Summary
PV (present value)-$10,000.00
PMT (periodic payment)-$200.00
FV (future value)$47,526.55
Sum of all periodic payments-$24,000.00
Total interest$13,526.55

Enter money you pay out as a negative number. Set P/Y to how often you pay: 12 for monthly, 1 for yearly.

Details

Balance Over Time

$47.5K$23.8K$0060120months

Schedule

Balance at each period
PeriodStartPaymentInterestEnd
1$10,000.00$200.00$41.67$10,241.67
2$10,241.67$200.00$42.67$10,484.34
3$10,484.34$200.00$43.68$10,728.03
4$10,728.03$200.00$44.70$10,972.73
5$10,972.73$200.00$45.72$11,218.44
6$11,218.44$200.00$46.74$11,465.19
7$11,465.19$200.00$47.77$11,712.96
8$11,712.96$200.00$48.80$11,961.76
9$11,961.76$200.00$49.84$12,211.60
10$12,211.60$200.00$50.88$12,462.49
11$12,462.49$200.00$51.93$12,714.41
12$12,714.41$200.00$52.98$12,967.39
13$12,967.39$200.00$54.03$13,221.42
14$13,221.42$200.00$55.09$13,476.51
15$13,476.51$200.00$56.15$13,732.66
16$13,732.66$200.00$57.22$13,989.88
17$13,989.88$200.00$58.29$14,248.17
18$14,248.17$200.00$59.37$14,507.54
19$14,507.54$200.00$60.45$14,767.99
20$14,767.99$200.00$61.53$15,029.52
21$15,029.52$200.00$62.62$15,292.14
22$15,292.14$200.00$63.72$15,555.86
23$15,555.86$200.00$64.82$15,820.68
24$15,820.68$200.00$65.92$16,086.60
25$16,086.60$200.00$67.03$16,353.62
26$16,353.62$200.00$68.14$16,621.77
27$16,621.77$200.00$69.26$16,891.02
28$16,891.02$200.00$70.38$17,161.40
29$17,161.40$200.00$71.51$17,432.91
30$17,432.91$200.00$72.64$17,705.54
31$17,705.54$200.00$73.77$17,979.32
32$17,979.32$200.00$74.91$18,254.23
33$18,254.23$200.00$76.06$18,530.29
34$18,530.29$200.00$77.21$18,807.50
35$18,807.50$200.00$78.36$19,085.86
36$19,085.86$200.00$79.52$19,365.39
37$19,365.39$200.00$80.69$19,646.08
38$19,646.08$200.00$81.86$19,927.94
39$19,927.94$200.00$83.03$20,210.97
40$20,210.97$200.00$84.21$20,495.18
41$20,495.18$200.00$85.40$20,780.58
42$20,780.58$200.00$86.59$21,067.16
43$21,067.16$200.00$87.78$21,354.94
44$21,354.94$200.00$88.98$21,643.92
45$21,643.92$200.00$90.18$21,934.11
46$21,934.11$200.00$91.39$22,225.50
47$22,225.50$200.00$92.61$22,518.11
48$22,518.11$200.00$93.83$22,811.93
49$22,811.93$200.00$95.05$23,106.98
50$23,106.98$200.00$96.28$23,403.26
51$23,403.26$200.00$97.51$23,700.77
52$23,700.77$200.00$98.75$23,999.53
53$23,999.53$200.00$100.00$24,299.52
54$24,299.52$200.00$101.25$24,600.77
55$24,600.77$200.00$102.50$24,903.28
56$24,903.28$200.00$103.76$25,207.04
57$25,207.04$200.00$105.03$25,512.07
58$25,512.07$200.00$106.30$25,818.37
59$25,818.37$200.00$107.58$26,125.95
60$26,125.95$200.00$108.86$26,434.80
61$26,434.80$200.00$110.15$26,744.95
62$26,744.95$200.00$111.44$27,056.39
63$27,056.39$200.00$112.73$27,369.12
64$27,369.12$200.00$114.04$27,683.16
65$27,683.16$200.00$115.35$27,998.51
66$27,998.51$200.00$116.66$28,315.17
67$28,315.17$200.00$117.98$28,633.15
68$28,633.15$200.00$119.30$28,952.45
69$28,952.45$200.00$120.64$29,273.09
70$29,273.09$200.00$121.97$29,595.06
71$29,595.06$200.00$123.31$29,918.37
72$29,918.37$200.00$124.66$30,243.03
73$30,243.03$200.00$126.01$30,569.04
74$30,569.04$200.00$127.37$30,896.41
75$30,896.41$200.00$128.74$31,225.15
76$31,225.15$200.00$130.10$31,555.25
77$31,555.25$200.00$131.48$31,886.73
78$31,886.73$200.00$132.86$32,219.59
79$32,219.59$200.00$134.25$32,553.84
80$32,553.84$200.00$135.64$32,889.48
81$32,889.48$200.00$137.04$33,226.52
82$33,226.52$200.00$138.44$33,564.97
83$33,564.97$200.00$139.85$33,904.82
84$33,904.82$200.00$141.27$34,246.09
85$34,246.09$200.00$142.69$34,588.78
86$34,588.78$200.00$144.12$34,932.90
87$34,932.90$200.00$145.55$35,278.46
88$35,278.46$200.00$146.99$35,625.45
89$35,625.45$200.00$148.44$35,973.89
90$35,973.89$200.00$149.89$36,323.78
91$36,323.78$200.00$151.35$36,675.13
92$36,675.13$200.00$152.81$37,027.94
93$37,027.94$200.00$154.28$37,382.23
94$37,382.23$200.00$155.76$37,737.99
95$37,737.99$200.00$157.24$38,095.23
96$38,095.23$200.00$158.73$38,453.96
97$38,453.96$200.00$160.22$38,814.18
98$38,814.18$200.00$161.73$39,175.91
99$39,175.91$200.00$163.23$39,539.14
100$39,539.14$200.00$164.75$39,903.89
101$39,903.89$200.00$166.27$40,270.15
102$40,270.15$200.00$167.79$40,637.95
103$40,637.95$200.00$169.32$41,007.27
104$41,007.27$200.00$170.86$41,378.13
105$41,378.13$200.00$172.41$41,750.54
106$41,750.54$200.00$173.96$42,124.50
107$42,124.50$200.00$175.52$42,500.02
108$42,500.02$200.00$177.08$42,877.11
109$42,877.11$200.00$178.65$43,255.76
110$43,255.76$200.00$180.23$43,635.99
111$43,635.99$200.00$181.82$44,017.81
112$44,017.81$200.00$183.41$44,401.22
113$44,401.22$200.00$185.01$44,786.22
114$44,786.22$200.00$186.61$45,172.83
115$45,172.83$200.00$188.22$45,561.05
116$45,561.05$200.00$189.84$45,950.89
117$45,950.89$200.00$191.46$46,342.35
118$46,342.35$200.00$193.09$46,735.44
119$46,735.44$200.00$194.73$47,130.18
120$47,130.18$200.00$196.38$47,526.55

Finance Calculator for Savings Goals, Loans, and Investments

Plan a savings goal, check a loan payment, or see what an investment grows to. This finance calculator works with five values: the number of periods, the interest rate, the present value, the payment, and the future value. It opens on the savings plan in the picture. Choose the value you're missing, enter your own numbers in the other four, and it solves it.

A savings plan sheet listing N 120, I/Y 5, PV −10,000, PMT −200, and P/Y 12, under a finance calculator showing FV = 47,526.55.

Savings plan

N (months)
120
I/Y (% a year)
5
PV (put in now)
−10,000
PMT (each month)
−200
P/Y (periods a year)
12
FV (at the end)
?
FV =47,526.55

What You Can Solve with a TVM Calculator

A chart on graph paper where the balance climbs to $47,526.55 after 10 years, above the $34,000 paid in.

Balance after 10 years

See What Your Savings Grow To

Choose FV at the top, then enter what you put in now, what you add each period, the rate, and how long. For monthly amounts, set P/Y to 12 and count N in months. You get the balance at the end, along with the sum of all payments and the total interest. Below the calculator, a chart and a schedule show the balance after every period, so you can watch the growth pick up in the later years.

A receipt for a $50,000 goal: with $10,000 saved now, 5% a year, and 120 months, the amount to save each month is $215.93.

Savings goal

Goal (FV)
50,000.00
Saved now (PV)
−10,000.00
Rate a year
5.00%
Months
120
Each month (PMT)
−215.93

Solved for PMT

Find the Payment That Reaches a Goal

Know how much you want and when? Choose PMT, enter the goal in FV as a positive number, and put any money you already have in PV as a negative one. The calculator works out how much to set aside each period. Try a different N or rate to see how the amount changes.

A clipped card with the same plan solved backward: a 5.00% rate to reach $47,526.55, and 126.15 months to reach $50,000.

Working backward

Rate to reach $47,526.55
5.00%
Months to reach $50,000
126.15

$10,000 now, $200 a month

Work Backward to the Rate or the Time

Sometimes the rate is the unknown. Choose I/Y to find the yearly rate that turns your deposits into a known amount, which is handy for checking the rate behind a plan or an offer. Choose N to see how many periods a goal takes. The answer can end in a fraction of a period, so round it up to the next whole one when you plan.

A cash-flow timeline: −10,000 at the start and −200 each month go below the line, and +47,526.55 comes back above it at month 120.

Money in and out

Get the Signs Right: Money Out Is Negative

Like most finance calculators, this one follows a cash-flow sign rule. Money you pay out, such as a deposit or a loan payment, is negative. Money you receive, such as the amount you borrow or the balance you take out at the end, is positive. If every number goes in as positive, the answer can come out wrong or not solve at all, so check the signs first.

How Time Value of Money Math Works

Every result comes from one equation that ties the five values together. Here it is worked by hand for the savings plan in the pictures, followed by the key terms.

The Formula

  • PV is the present value, the money at the start.
  • PMT is the payment made every period.
  • FV is the future value, the money at the end.
  • r is the rate per period: I/Y divided by P/Y, so 5% a year with P/Y at 12 is 5% ÷ 12.
  • n is the number of periods, the N box.

Example: $10,000 Plus $200 a Month at 5% for 10 Years

  1. Find the monthly rate and the number of months

    5% ÷ 12 = 0.4167% a month, and 10 years × 12 = 120 months. Rounded here; the calculator keeps every digit.

  2. Grow the starting deposit

    $10,000 × (1.004167)120 = $16,470.09.

  3. Grow the monthly deposits

    $200 × ((1.004167)120 − 1) ÷ 0.004167 = $31,056.46.

  4. Add them up

    $16,470.09 + $31,056.46 = $47,526.55. You paid in $34,000, so $13,526.55 of that is interest.

Key Terms

Time value of money
The idea that money today is worth more than the same amount later, because it can earn interest in the meantime.
Compound interest (opens in a new tab)
Interest paid on the original amount and on the interest already earned.
Annuity
A run of equal payments at regular intervals, like monthly deposits or loan payments.
P/Y (periods per year)
How many periods make a year: 1, 4, or 12. The calculator uses it for payments and compounding alike.
End of period
Each payment lands at the end of the period, as with most loans. Also called an ordinary annuity.
Beginning of period
Each payment lands at the start, as with rent. It earns one more period of interest, so the PMT part of the formula is multiplied by (1 + r). Also called an annuity due.

Finance Calculator FAQs

What does a finance calculator do?

It solves time value of money problems, where interest and regular payments move a balance over time. That covers savings goals, loan payments, investment growth, and annuities. It doesn't account for taxes, fees, or inflation, so treat the results as figures before any of those.

Why is my answer negative?

Because of the cash-flow signs. A negative answer is money you pay out, and a positive one is money you receive. Solving PMT for a loan you took out, for example, gives a negative payment, since you pay it every month.

How do I work out a loan payment?

Press Clear, then choose PMT and set P/Y to 12 for monthly payments. Enter the number of months as N, the yearly rate as I/Y, and the amount borrowed as a positive PV, and leave FV empty. The answer is the principal and interest only. To compare a new mortgage rate with the one you have, the refinance calculator lines the two loans up side by side.

How long will it take to pay off my loan?

Press Clear, then choose N. Enter the balance you owe as a positive PV and your payment as a negative PMT, and leave FV empty. With P/Y at 12, the answer is the number of months left. If you see “Cannot reach that future value,” check the signs, or the payment may be too small to cover the interest.

Should I enter the APR or the interest rate?

For a loan payment, use the interest rate. The APR adds the lender's fees (opens in a new tab) to the rate, so it usually runs higher and would overstate the payment. For savings, an APY already counts compounding, so the I/Y that matches a 5% APY compounded monthly is about 4.89%.

Is this the same as a financial calculator like the BA II Plus?

The keys work the same way: N, I/Y, PV, PMT, and FV, with the same cash-flow signs. The difference is that P/Y here sets both how often you pay and how often interest compounds, while a BA II Plus has a separate C/Y setting. So a loan that compounds on another schedule, such as a Canadian fixed-rate mortgage compounded twice a year, won't match the lender's figures exactly. Choosing Canada next to the title changes the currency, not the compounding.

Run Your Own Numbers in the Finance Calculator

Have a goal, a loan, or an offer to check? Enter the four values you know and solve for the one you don't. It's one of the free tools on EZ Calculator, with nothing to sign up for, and your numbers stay in your browser.