In This Topic
FV
In This Topic

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
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 rate and 5 for 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 \$6877.00