# Future Value of Varying Amounts and/or Time Intervals

The future value of multiple amounts is determined by calculating, and then adding together, the future value for each single amount. We illustrate this with Calculations #17 and #18.

### Calculation #17

You are asked to determine the total future value on December 31, 2023 of a $1,000 deposit made on January 1, 2019 plus a $5,000 deposit made on January 1, 2021. Both amounts will earn 8% per year compounded annually. The timeline for this information is:

The total future value on December 31, 2023 is the sum of these two calculations:

**Future value calculation of the $1,000 deposited on Jan 1, 2019:**

**Future value calculation of the $5,000 deposited on Jan 1, 2021:**

The total future value on December 31, 2023 for these two deposits will be **$7,769**. You can verify the future value of $7,769 with the following table:

### Calculation #18

You are asked to determine the total future value on December 31, 2023 of a $1,000 deposit made on January 1, 2019 plus a $5,000 deposit made on December 31, 2020. Both amounts will earn 8% per year compounded quarterly.

Because the interest is compounded quarterly, we convert the first deposit from 5 years to 20 quarterly periods, and the second deposit from 3 years to 12 quarterly periods. We convert the interest rate of 8% per year to the rate of 2% per quarter.

The following calculations reflect the restatement to quarters. Again, the sum of the answers to these two equations will be the future value on December 31, 2023.

**Future value calculation of the $1,000 deposited on Jan 1, 2019:**

**Future value calculation of the $5,000 deposited on Dec 31, 2020:**

The total future value on December 31, 2023 for these two deposits will be **$7,826**. You can verify the future value of $7,826 with the following table:

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