Description
The Microsoft Excel FV function returns the future value of an investment based on an interest rate and a constant payment schedule.
Syntax
The syntax for the FV function in Microsoft Excel is:
FV( interest_rate, number_payments, payment, [PV], [Type] )
Parameters or Arguments
- interest_rate
- The interest rate for the investment.
- number_payments
- The number of payments for the annuity.
- payment
- The amount of the payment made each period.
- PV
- Optional. It is the present value of the payments. If this parameter is omitted, it assumes PV to be 0.
- Type
- Optional. It indicates when the payments are due. If the Type parameter is omitted, it assumes a Type value of 0. Type can be one of the following values:
Value Explanation 0 Payments are due at the end of the period. (default) 1 Payments are due at the beginning of the period.
Applies To
- Excel 2016, Excel 2013, Excel 2011 for Mac, Excel 2010, Excel 2007, Excel 2003, Excel XP, Excel 2000
Type of Function
- Worksheet function (WS)
- VBA function (VBA)
Example (as Worksheet Function)
Let's look at some Excel FV examples and explore how to use the FV function as a worksheet function in Microsoft Excel.
This first example returns the future value of an investment where you deposit $5,000 into a savings account that earns 7.5% annually. You are going to deposit $250 at the beginning of the month, each month, for 2 years.
=FV(7.5%/12, 2*12, -250, -5000, 1) Result: $12,298.46
This next example returns the future value of an investment where you deposit $8,000 into a savings account that earns 6% annually. You are going to deposit $50 at the end of the week, each week, for 4 years.
=FV(6%/52, 4*52, -50, -8000, 0) Result: $21,915.09
This next example returns the future value of an investment where you deposit $6,500 into a savings account that earns 5.25% annually. You are going to deposit $100 at the end of the year, each year, for 10 years.
=FV(5.25%/1, 10*1, -100, -6500, 0) Result: $12,115.19
Example (as VBA Function)
The FV function can also be used in VBA code in Microsoft Excel.
Let's look at some Excel FV function examples and explore how to use the FV function in Excel VBA code:
Dim LValue As Currency LValue = FV(0.0525/1, 10*1, -100, -6500, 0)
In this example, the variable called LValue would now contain the value of $12,115.19
