# FV function

**FV**(rate, numberOfPeriods, payment, presentValue?, type?)

**FV**(rate; numberOfPeriods; payment; presentValue?; type?)

## rate

The interest rate per period.

## numberOfPeriods

The total number of payment periods in the term.

## payment

The payment made each period. If set to 0, the value of the presentValue parameter is used instead.

## presentValue

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.

## type

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.

## Returns

The future value.

Returns the future value of an initial sum with a subsequent stream of payments.

## Examples

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.