Annuity Calculator

No -- Payment Amount is the dollar figure paid EACH period, not an annual total that gets divided. Raising Payments Per Year from, say, 4 (quarterly) to 12 (monthly) at the same Payment Amount means three times as much money is actually being paid in per year, not the same amount split differently, so Future Value rises substantially -- both from more total money contributed and from more frequent compounding.

The two values move in opposite directions because they represent opposite operations on the same interest rate. Future Value compounds payments FORWARD in time, so a higher rate means more growth and a larger total. Present Value discounts future payments BACKWARD to today, so a higher rate means each future dollar is worth less today -- the same $1,000 payment 20 years from now is worth less today at a 6% discount rate than at a 4% one.

They become identical, and both equal simply Payment Amount multiplied by the total number of payments -- with no interest rate, there's no compounding growth for Future Value and no discounting reduction for Present Value, so the annuity's value is just the sum of the raw payments with nothing added or subtracted for the time value of money.

Yes -- both Future Value and Present Value scale directly with Payment Amount, since every term in both formulas is a straightforward multiple of the per-period payment. Doubling Payment Amount exactly doubles both Future Value and Present Value, holding the interest rate, term length, and payment frequency constant.