## Future Value Of Growing Annuity

The formula for the future value of a growing annuity is used to calculate the future amount of a series of cash flows, or payments, that grow at a proportionate rate. A growing annuity may sometimes be referred to as an increasing annuity

## $$\frac{p[1+r{]}^{n}-[1+g{]}^{n}}{r-g}$$

Here,p=first payment.r=rate per period,g=growth rate,n=number of periods.

ENTER THE VARIABLES TO BE USED IN THE FORMULA