Function Type: Financial
Description:
Returns the future value of an investment.
Function Structure:
=FV(rate, nper, pmt, [pv], [type]).
Argument Breakdown:
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. Typically, pmt contains principal and interest but no other fees or taxes. If pmt is omitted, you must include the pv argument.
pv – The present value, or the lump-sum amount that a series of future payments is worth right now. If pv is omitted, it is assumed to be 0 (zero), and you must include the pmt argument.
type – The number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.
Example:
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