Annuity Calculator
Solve for payment, present value, or future value on a level annuity. Choose end-of-period (ordinary) or beginning-of-period (due). Figures stay on this device. Informational, not investment advice.
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How to calculate an annuity
- Choose whether you need payment, future value, or present value.
- Enter the known cash amounts, annual rate, years, and payments per year.
- Set timing to end for an ordinary annuity, or begin for an annuity due.
- Read the solved amount, period count, and periodic rate.
- Treat the result as arithmetic on this device, not a product quote or investment advice.
Level annuity
Equal payments at a fixed periodic rate
| Ordinary PV | PMT × (1 − (1+r)^−n) / r |
|---|---|
| Ordinary FV | PMT × ((1+r)^n − 1) / r |
| Due adjustment | Multiply ordinary PV or FV by (1+r) |
| r | Periodic rate = annual rate / payments per year |
| n | Total payments = years × payments per year |
| Advice | Informational. Not investment advice. |
What this annuity page solves
A level annuity is a fixed payment repeated on a schedule. This page solves payment from a present balance or a target future value, or it solves present value or future value from a known payment. Timing can be end of period (ordinary) or beginning of period (due).
Formulas used
With periodic rate r and n payments, ordinary present value is PMT × (1 − (1+r)^−n) / r. Ordinary future value is PMT × ((1+r)^n − 1) / r. Annuity due multiplies those by (1+r). A zero rate uses PMT × n. Payment is the rearrangement of the same identities.
Related money pages
For a single lump sum that compounds without a payment series, use compound interest. A withdrawal that depletes a fixed balance is on annuity payout. Discounting a future lump plus optional payments also sits on present value.
Use cases
Sketch the deposit needed to reach a savings goal. Estimate how large a withdrawal a nest egg can support for a fixed term. Check homework on ordinary versus due timing. Not a quote for an insurance annuity contract.
Worked example
Solve payment from a $100,000 present value at 5% for 20 years with monthly payments at the end of each month. Periodic rate is 0.05/12. The page returns the level withdrawal that exhausts the balance over 240 months under that fixed rate.
Limits
No mortality table, rider fees, or insurer surrender charges. Rate is constant. Figures are informational, not investment advice. See the disclaimer. CZNull does not receive the numbers.