Identify the present value (PV)
Determine the annual interest rate or growth rate (r)
Determine the number of periods (n)
Use the formula: FV = PV × (1 + r)^n
If compounding occurs more than once per year, use: FV = PV × (1 + r/m)^(m×n)
If using continuous compounding, use: FV = PV × e^(r×n)
Substitute the known values into the correct formula
Calculate the result to find the future value (FV)