The document discusses formulas for calculating future value with compound interest. It defines future value as the value of a present amount of money or series of payments at a future time given an interest rate. Compound interest is earned on both the original principal amount and any interest earned in previous periods, while simple interest is earned only on the original principal amount. The key formula provided is: Future Value = Principal x (1 + Interest Rate/Periods)^Periods An example calculates the future value after 10 years of a $55,650 deposit earning 15% annual interest, which equals $225,159.90. The document also discusses calculating the future value of an annuity, which is a series of fixed payments over a