Future value is the
value of an
asset at a specific date. It measures the nominal future sum of money that a given sum of money is "worth" at a specified time in the future assuming a certain
interest rate, or more generally,
rate of return; it is the
present value multiplied by the
accumulation function. The value does not include corrections for inflation or other factors that affect the true value of money in the future. This is used in
time value of money calculations.