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# FV

This function returns the future value of an investment based on a present value, periodic payments, and a specified interest rate.

## Syntax

`FV(rate, numper, paymt, pval, type)`

## Arguments

This function has these arguments:

Argument

Description

rate

Interest rate expressed as percentage (per period)

numper

Total number of payment periods

paymt

pval

[Optional] Present value; if omitted, uses zero and the calculation is based on the paymt argument.

type

[Optional] Indicates when payments are due; at the end (0) or beginning (1) of the period; if omitted, the calculation uses the end (0)

## Remarks

Use consistent units for specifying the rate and number of periods arguments. If you make monthly payments on a five-year loan at 8 percent annual interest, use 0.08/12 for the rate argument and 5*12 for the number of periods argument. If you make annual payments on the same loan, use 0.08 for the rate and 5 for a number of periods.

For the arguments, money paid out (such as deposits in an investment) is represented by negative numbers; money you receive (such as dividend checks) is represented by positive numbers.

See the PV function for the equations for calculating financial values.

## Data Types

Accepts numeric data for all arguments. Returns numeric data.

## Examples

`FV(A1/12,48,B1,1000,0)`

`FV(R1C1/12,48,R1C2,1000,0)`

`FV(0.005,60,-100,100,1)` gives the result of \$6877.00