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# Future Value of Savings

Future Value of savings is used to determine the future value of an account where regular savings payments have been deposited, and the balance receives interest compounded on the payment frequency. Future value of savings can also be used to determine the present value of a savings balance, the interest rate, the number of payments, and the amount of the savings payment. Use the future value of savings calculator below to solve the formula.

### Future Value of Savings Definition

Future Value of Savings is the future value of a stream of equal savings installments (payments), where the payment occurs at the end of each period, and the balance accrues interest compounded at each payment.

### Variables

FV=Future Value of savings balance
PV=Present Value of savings balance
I=Period Interest Rate
N=Number of payments
Pmt=Savings installment amount

### Future Value of Savings Formula

Period Interest Rate solved by iteration

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