Conceptual Overview: Explore how interest, payment, and number of periods determine the future value of an ordinary annuity. The upper (red) line depicts the future value of the ordinary annuity for the specified time period. The lower (blue) line depicts the cumulative annuity payments over that time period. Use the sliders to change the interest rate, the payment per period, or the number of periods and observe how the future value of the annuity changes. FVAN=PMT[I(1+I)N1]=$100[0.050(1+0.050)31)]=$315.25