The interest rate per period.
The total number of payment periods in the term.
The payment made each period. If set to 0, the value of the presentValue parameter is used instead.
The lump sum payment at the start of the term. (With a loan, this would normally be the sum borrowed. With a bond, this would generally be 0.) If omitted, it is assumed to be 0.
0 if payments are made at the end of each period and 1 if payments are made at the start of each period (including a payment at the start of the term). If omitted, it is assumed to be 0.
The future value.
Returns the future value of an initial sum with a subsequent stream of payments.
Returns a future value of $3,152.50. Let's assume that you pay $1,000 at the end of each year for three years. Assuming an interest rate of 5%, you expect to receive $3,152.50 at the end of the term. $1,000 is negative because you pay that sum. The future value is positive because you receive that sum.
Returns a future value of roughly $-328.49. Let's assume that you borrow $10,000 at an interest rate of 7% and pay $1,400 at the end of each year for 10 years. $10,000 is positive because you have that sum. $1,400 is negative because you pay that sum. The future value is negative because this is the amount of money you owe at the end of the term.