# FV function

FV(Rate, NumberOfPeriods, Payment, PresentValue?, Type?) FV(Rate; NumberOfPeriods; Payment; PresentValue?; Type?)

## Rate

Number or { Number }

The interest rate per period.

## NumberOfPeriods

Number or { Number }

The total number of payment periods in the term.

## Payment

Number or { Number }

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

## PresentValue

Number or { Number } (optional)

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

Number or { Number } (optional)

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

Number or { Number }

The future value.

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

## Examples

FV(5%, 3, -1000, 0, 0)FV(5%; 3; -1000; 0; 0)

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.

FV(7%, 10, -1400, 10000, 0)FV(7%; 10; -1400; 10000; 0)

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.

FV(7%, 1, 0, 10000, 0)FV(7%; 1; 0; 10000; 0)

Returns a future value of \$-10,700. Let's assume that you borrow \$10,000 at an interest rate of 7% and do not pay any of it back. You owe \$10,700 after one year.

Partly derived from the OpenOffice.org documentation, licensed under the Apache License 2.0.