### Table of Contents

# 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.

## Additional syntax

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

Argument | Type | Description |
---|---|---|

rate | Number (decimal) | The interest rate of the loan (entered as a decimal). |

num_per | Number | The number of payments of the loan (usually in months or years). |

payment | Number (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_val | Number | Optional. The current value of the annuity. |

pay_due | Binary (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)