# FV - script and chart function

This function returns the future value of an investment based on periodic, constant payments and a simple annual interest.

Syntax:

FV(rate, nper, pmt [ ,pv [ , type ] ])

Return data type: numeric. The result has a default number format of money. .

Arguments:

FV arguments

| Argument | Description |
| --- | --- |
| rate | The interest rate per<br>period. |
| nper | The total number of<br>payment periods in an annuity. |
| pmt | The payment made each<br>period. It cannot change over the life of the annuity. A payment is stated as a negative number, for example, -20. |
| pv | The present value, or<br>lump-sum amount, that a series of future payments is worth right now.<br>If pv is omitted, it is assumed<br>to be 0 (zero). |
| type | Should be 0 if payments<br>are due at the end of the period and 1 if payments are due at the beginning<br>of the period. If type is omitted,<br>it is assumed to be 0. |

Examples and results:

Examples and results

| Example | Result |
| --- | --- |
| You are paying a new household appliance by 36 monthly installments<br>of $20. The interest rate is 6% per annum. The bill comes at the end of<br>every month. What is the total invested, when the<br>last bill has been paid?<br><br>`FV(0.005,36,-20)` | Returns $786.72 |