is the worth of a cash amount at a specified date in the future that is equivalent in value to a specified sum today.
Example: You want to invest $411 per month over the next 3 months at an interest rate of 4%. What is the future value of your investment?
Future Value of Annuity is the future value of a stream of payments (12), assuming the payments are invested at a given rate of interest.
Example: You are receiving inheritance payments of $1000 every year for the next 5-years and you invested each payment at a 5% interest rate. What is the future value of the annuity payments?