Find the future value of a series of equal, regular payments.
Modelled as a monthly annuity, using the same maths behind a SIP calculation.
Future value: Same annuity formula used for SIP
Is an annuity the same as a SIP?
In maths, yes — both describe a series of equal payments made regularly, that grow over time. 'Annuity' is just the more general financial term for this.