# Future Value Annuity Tables

The purpose of the future value annuity tables is to make it possible to carry out annuity calculations without the use of a financial calculator.

They provide the value at the end of period n of 1 received at the end of each period for n periods at a discount rate of i%.

The future value of an annuity formula is:

```FV = Pmt x ((1 + i)n - 1) / i
```

Future value annuity tables are used to provide a solution for the part of the future value of an annuity formula shown in red, this is sometimes referred to as the future value annuity factor.

`FV = Pmt x Future value annuity factor`

## Annuity Tables Future Value Example

What is the future value of 6,000 received at the end of each year for 8 years, if the discount rate is 4%?

```Pmt = 6,000
n = 8
i = 4%
FV = Pmt x ((1 + i)n - 1) / i
FV = 6,000 x ((1 + 4%)8) / 4%
FV = 6,000 x Future value of annuity factor for n = 8, i = 4%
FV = 6,000 x 9.2142
FV = 55,285.20
```

The future value annuity factor of 9.2142, is found using the tables by looking along the row for n = 8, until reaching the column for i = 4%, as shown in the preview below.