Calculate the future value or present value of any annuity — ordinary or annuity due. Instant results for fixed payments, any rate, any term. Calculator4U
Calculate the future value, present value, and total returns of any fixed annuity or series of equal payments.
An annuity calculator computes the future value (FV) or present value (PV) of a series of equal periodic payments — helping you evaluate retirement income streams, savings plans, pension buyouts, lottery payouts, and fixed annuity (MYGA) investments. Enter your payment amount, interest rate, number of periods, and payment timing to instantly see FV, PV, and a full period-by-period schedule.
What this calculator solves:
Ordinary annuity vs. annuity due: Most financial products — mortgages, bonds, retirement income streams — are ordinary annuities where payments fall at the end of each period. Annuities due — rent, leases, insurance premiums — pay at the beginning of each period. Because annuity due payments arrive one period earlier, its FV and PV are always higher by a factor of (1 + r). For a 6% annual rate monthly annuity, annuity due values are 0.5% higher per period than ordinary annuity values.
Fixed annuity (MYGA) rates in 2026: As of May 2026, the best MYGA rates from A-rated carriers range from 5.00%–5.60% for 3–5 year terms and up to 6.00%–6.50% for 7-year terms (AnnuityRateWatch). These rates remain near 15-year highs and meaningfully outpace bank CDs. Unlike a CD, MYGA interest compounds tax-deferred — a 5.65% MYGA is equivalent to approximately 7.43% for a saver in the 24% federal tax bracket. Use the FV calculator to model any lump sum invested at today's MYGA rates.
This calculator works for fixed-payment ordinary annuities, annuities due, and growing annuities. It is not designed to value variable annuities or fixed indexed annuities (FIAs), where returns depend on market performance rather than a fixed rate. Always consult a licensed financial advisor before purchasing any annuity product.
An annuity is a series of equal, periodic payments made or received at regular intervals — monthly retirement income, quarterly bond coupons, annual insurance payouts. An annuity calculator computes either the future value (FV) — how much a series of payments grows to by a future date — or the present value (PV) — what a stream of future payments is worth in today's dollars. Enter your payment amount, interest rate, number of periods, and payment timing (ordinary or due) for instant results.
An ordinary annuity makes payments at the END of each period — the most common type, covering mortgages, bond coupons, and most retirement income. An annuity due makes payments at the START of each period — used for rent, leases, and insurance premiums. Because annuity due payments arrive one period earlier, its present value and future value are higher than an otherwise identical ordinary annuity by a factor of (1 + r), where r is the periodic interest rate.
FV (ordinary annuity) = PMT × [(1 + r)^n − 1] ÷ r. Where PMT = periodic payment, r = interest rate per period, n = total payments. Example: $500/month for 30 years at 6% (r = 0.5%/month, n = 360): FV = $502,257. For annuity due, multiply by (1 + r): $502,257 × 1.005 = $504,768. The difference reflects one extra period of compounding on every payment.
PV (ordinary annuity) = PMT × [1 − (1 + r)^−n] ÷ r. Example: $2,000/month for 20 years at 5% annual rate (r = 0.4167%/month, n = 240): PV = $301,773. This means the right to receive $2,000/month for 20 years is worth approximately $301,773 today at a 5% discount rate. For annuity due, multiply by (1 + r) for a slightly higher result.
Use the calculator's PV mode to find the implied discount rate in any offer. If the implied rate is lower than what you could earn by investing the lump sum, the lump sum is generally the better financial choice. A lump sum is typically better if: you can invest at a higher rate, you have a shorter life expectancy, or you need flexible access. Annuity payments are better if: you prioritize guaranteed income you cannot outlive, you are concerned about overspending, or the annuity's implied rate exceeds what you could safely earn in the market.
As of May 2026, the best fixed annuity (MYGA) rates from A-rated carriers are approximately 5.00%–5.60% for 3–5 year terms and up to 6.00%–6.50% for 7-year terms (AnnuityRateWatch). These remain near 15-year highs. Because MYGA interest compounds tax-deferred, a 5.65% MYGA is equivalent to ~7.43% for a saver in the 24% federal tax bracket — significantly outpacing bank CDs on an after-tax basis. Use the FV calculator to model growth on any lump sum at today's rates.
A growing annuity is a payment series that increases at a constant rate each period instead of remaining fixed. FV formula: PMT × [(1 + r)^n − (1 + g)^n] ÷ (r − g), where g = periodic growth rate. Common uses include salary-linked retirement contributions rising 3%/year, rental income growing with inflation, or dividend streams with projected growth. If r = g, use the simplified form: FV = PMT × n × (1 + r)^(n−1).
Fixed annuity (MYGA): Guaranteed interest rate for a set term — principal fully protected. Best for conservative savers and near-retirees. Variable annuity: Growth tied to mutual fund sub-accounts — no guarantee, market upside and downside. Best for long-horizon investors comfortable with volatility. Fixed indexed annuity (FIA): Growth linked to a market index (e.g. S&P 500) with a 0% floor (no loss in down years) but a cap or participation rate limiting upside. Best for retirees seeking index participation without full downside risk.