This calculator helps you estimate the future value of your money given an expected inflation rate. Understanding inflation is crucial for financial planning, as it erodes the purchasing power of money over time. By inputting the present value of your money and the anticipated annual inflation rate, you can see how much your money might be worth in the future, allowing for better long-term investment and savings decisions.
function calculateFutureValue() {
var presentValue = parseFloat(document.getElementById("presentValue").value);
var annualInflationRate = parseFloat(document.getElementById("annualInflationRate").value);
var numberOfYears = parseFloat(document.getElementById("numberOfYears").value);
var resultElement = document.getElementById("result");
resultElement.innerHTML = ""; // Clear previous results
if (isNaN(presentValue) || isNaN(annualInflationRate) || isNaN(numberOfYears) || presentValue < 0 || annualInflationRate < 0 || numberOfYears < 0) {
resultElement.innerHTML = "Please enter valid positive numbers for all fields.";
return;
}
// Formula: Future Value = Present Value * (1 + Inflation Rate)^Number of Years
// Inflation rate needs to be converted from percentage to decimal
var inflationRateDecimal = annualInflationRate / 100;
var futureValue = presentValue * Math.pow((1 + inflationRateDecimal), numberOfYears);
// Displaying the result with currency symbol and two decimal places
var currencySymbol = "$"; // Assuming a default currency symbol, adjust if needed for localization
resultElement.innerHTML =
"The estimated future value of your money after " + numberOfYears + " year(s) with an annual inflation rate of " + annualInflationRate + "% is: " + currencySymbol + futureValue.toFixed(2) + "" +
"This means that in " + numberOfYears + " year(s), you would need approximately " + currencySymbol + futureValue.toFixed(2) + " to have the same purchasing power as " + currencySymbol + presentValue.toFixed(2) + " today.";
}
.calculator-container {
font-family: sans-serif;
border: 1px solid #ccc;
padding: 20px;
border-radius: 8px;
max-width: 600px;
margin: 20px auto;
background-color: #f9f9f9;
}
.calculator-title {
text-align: center;
color: #333;
margin-bottom: 15px;
}
.calculator-description {
color: #555;
line-height: 1.6;
margin-bottom: 25px;
text-align: justify;
}
.calculator-inputs {
display: grid;
grid-template-columns: repeat(auto-fit, minmax(200px, 1fr));
gap: 15px;
margin-bottom: 20px;
}
.input-group {
display: flex;
flex-direction: column;
}
.input-group label {
margin-bottom: 5px;
color: #444;
font-weight: bold;
font-size: 0.9em;
}
.input-group input {
padding: 10px;
border: 1px solid #ddd;
border-radius: 4px;
font-size: 1em;
box-sizing: border-box; /* Ensures padding and border are included in the element's total width and height */
}
.calculate-button {
display: block;
width: 100%;
padding: 12px 20px;
background-color: #007bff;
color: white;
border: none;
border-radius: 4px;
font-size: 1.1em;
cursor: pointer;
transition: background-color 0.3s ease;
margin-top: 10px;
}
.calculate-button:hover {
background-color: #0056b3;
}
.calculator-result {
margin-top: 25px;
padding: 15px;
background-color: #e9ecef;
border: 1px solid #ced4da;
border-radius: 4px;
text-align: center;
color: #333;
}
.calculator-result p {
margin-bottom: 10px;
font-size: 1.05em;
}
.calculator-result strong {
color: #28a745; /* Green color for emphasis */
}
.error-message {
color: #dc3545;
font-weight: bold;
}