Use the formula: Future Value = Present Value × (1 + interest rate)^number of periods
Identify the present value, interest rate, and number of periods
Convert the interest rate to decimal form
Make sure the time period matches the compounding period
Substitute the values into the formula
Calculate the exponent first
Multiply the present value by the result
For regular deposits, use the annuity future value formula
For continuous compounding, use: Future Value = Present Value × e^(rate × time)
Verify the units and compounding frequency before finalizing the result