Future value of annuity |

The future value of an annuity is the value of a group of recurring payments at a specific date in the future; these regularly recurring payments are known as annuity.

The future value of an annuity measures how much you would have in the future given a specific rate of return or discount rate. The future cash flows of the annuity grows at the stated discount rate, so a higher discount rate results in a higher future value of the annuity.

Reference: investopedia |