GlenCalc

Annuity calculator

An annuity is a series of equal payments. Enter a starting balance and a yearly contribution, optionally rising each year, to see the balance at the end of the accumulation phase.

Your answer

Balance at the end$337,811.61
Total contributed$165,784.22
Investment growth$172,027.39
Year by year
YearContributionBalance
1$6,000.00$27,560.00
2$6,120.00$35,700.80
3$6,242.40$44,459.79
4$6,367.25$53,876.66
5$6,494.59$63,993.53
6$6,624.48$74,855.10
7$6,756.97$86,508.80
8$6,892.11$99,004.96
9$7,029.96$112,397.02
10$7,170.56$126,741.62
11$7,313.97$142,098.93
12$7,460.25$158,532.72
13$7,609.45$176,110.70
14$7,761.64$194,904.68
15$7,916.87$214,990.85
16$8,075.21$236,450.02
17$8,236.71$259,367.94
18$8,401.45$283,835.56
19$8,569.48$309,949.33
20$8,740.87$337,811.61

Worked out in your browser. Nothing you type is sent to a server.

How we worked it out

Updated as you change the numbers.

  1. Each year: add the contribution (start or end of the year), grow the balance by the return, then raise the next contribution by the increase rate.

Method and assumptions

This models the accumulation phase of an annuity or any regular saving plan. With no increase, it matches the future value of an annuity. A rising contribution is a growing annuity, useful when contributions keep pace with pay rises. Fees inside commercial annuity products are not included.

Questions

What do $6,000 yearly contributions grow to in 20 years at 6%?

Made at the start of each year with no increase and nothing to start, $233,956.

Sources

Method and figures checked on . Every worked answer on this page is covered by an automated test. Found a mistake? Tell us.

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