Future Value
Definition
What a sum invested today will grow to at a given interest rate over time. Inverse of present value.
Example
$1,000 invested at 5% compounded annually for 10 years has a future value of about $1,629.
What a sum invested today will grow to at a given interest rate over time. Inverse of present value.
$1,000 invested at 5% compounded annually for 10 years has a future value of about $1,629.