Returns the future value of an investment based on constant periodic payments and a constant interest rate.
Make sure that the rate corresponds to the number of payment periods. For a monthly payment period remember to divide an annual interest rate by 12 (months) to get a monthly interest rate. Enter cash paid out as negative values, and any cash received as positive values.
Syntax
FV(rate,periods,payment,{pv},{atEnd})
Arguments
rate The interest rate for the period of the investment. periods The number of payment periods. payment The amount paid each period. pv The present value of the investment (optional, default is 0). atEnd If TRUE payments take place at end of a payment period. (optional, default is TRUE.) Example
FV(.10/12,5*12,-100) = $7,743.71.
You save $7,743.71 after 5 years depositing $100 a month with no initial deposit and a 10% interest rate.