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syntax:functions:fv

# FV(rate, num_per, payment)

Category: Number (Financial) function

## Description

This function calculates the future value of an investment based on a constant interest rate.

Optional current value (cur_val) argument.

`fv(rate, num_per, payment, cur_val)`

Optional payments due (pay_due) argument.

`fv(rate, num_per, payment, cur_val, pay_due)`

## Arguments

ArgumentTypeDescription
rateNumber (decimal)The interest rate of the loan (entered as a decimal).
num_perNumberThe number of payments of the loan (usually in months or years).
paymentNumber (negative)The payment made each period (that does not change), entered as a negative value. Includes principal
and interest, but no fees or taxes.
curr_valNumberOptional. The current value of the annuity.
pay_dueBinary (0 or 1)Optional. This value defines when payments are due. Options: 0 (the beginning of the period; default),
or 1 (the end of the period).

Return value type: Number

## Remarks

For an accurate calculation, be sure to convert rate and num_per to the same time period. If calculating a monthly payment and rate is an annual rate, divide it by 12 (rate / 12). If num_per is given as years, multiply by 12 (num_per * 12).

## Examples

Calculate the future value: Interest rate is 10% (annual), number of periods is 36 (months), payment is \$225 per month.

`fv( (0.10/12), 36, -225) //Returns \$9400.91 (rounded)`

Calculate the future value: Interest rate is 14% (annual), payment is \$6000 per year, current value is \$8,000.

`fv( 0.14, 10, -6000, 8000) //Returns \$86,366.00 (rounded)`

Calculate the future value: Interest rate is 1% (monthly), payment \$600 per month, current value is \$0, payments due at the end of the period.

`fv(0.01, 48, -600, 0, 1) //Returns \$37100.90 (rounded)` 