Future value of growing annuity is the calculation of future value of a series of cash flows that grow at a constant rate for each period / year.

The future value of a growing annuity is calculated using the following formula :

FVGA = P * [ [ ( 1 + r ) ^{n} – ( 1 + g ) ^{n} ] / [ ( r- g ) ] ]

where

FVGA = Future value of growing annuity ; P = First year payment ; g = growth rate ;

r = Discount rate / rate of interest ; n = Number of years ;

In the calculator below insert the values of First year payment, growth rate, Discount rate and Number of years to arrive at the Future value of growing Annuity.