The present equivalent for the geometric gradient series can be determined by using the following equation: A{1-(P/F, 1%, N) (F/P, 7%, N)} fi i-f AN(P/F, 1%, 1), f=i To find the future amount of savings calculate the product of the present equivalent and the corresponding (F/P, %, N) factor. Recall the formula for the (P/F, %, N) and (F/P, 1%, N) factors: (P/F, 1%, N)=(1+i), (F/P, 1%, N) = (1 + i)~ where i equals the effective interest rate per interest period and N is the number of interest periods.