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. By default, the result will be formatted as currency..
Arguments:
| Argument | Description |
|---|---|
| rate | The interest rate per period. |
| nper | The total number of payment periods in an annuity. |
|
pmt |
The payment made each 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 lump-sum amount, that a series of future payments is worth right now. If pv is omitted, it is assumed to be 0 (zero). |
|
type |
Should be 0 if payments are due at the end of the period and 1 if payments are due at the beginning of the period. If type is omitted, it is assumed to be 0. |