For any discount rate,the future value of an annuity due factor for n periods is equal to the future value of an ordinary annuity factor for n + 1 periods minus 1.

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This is a well-known formula in finance for calculating the future value of an annuity due, where the future value is equal to the sum of payments plus interest earned over a certain period of time. By adding an extra period and subtracting 1 from the future value of an ordinary annuity factor, we can derive the future value of an annuity due factor.

For Any Discount Rate,the Future Value of an Annuity Due