Money invested today grows into an amount referred to as its:

1. Value at a later date has its own name. 2. Interest is earned on amounts you have invested. 3. Time therefore adds value to your savings. 4. That later amount is referred to as future value, abbreviated FV. _Source: OpenStax Principles of Finance (CC BY 4.0), Ch 7 'Time Value of Money I: Single Payment Value'_