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	Spreadsheet Mathematical Functions Data Entry Tips for Functions

FV

Description: Returns the future value based on periodic, constant payments and constant interest rate.

Syntax: FV(Rate, Nper, Pmt, [PV], [Type])

For a more complete description of the arguments in FV and for more information on annuity functions, see the PV function.
Rate is the interest rate per period.
Nper is the total number of payment periods in an annuity.
Pmt is 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.
PV is 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 is the number 0 or 1 and indicates when payments are due.

Set type equal to	If payments are due
0 or omitted	At the end of the period
1	At the beginning of the period

Remarks:

Make sure that you are consistent about the units you use for specifying Rate and Nper. If you make monthly payments on a four-year loan at 12 percent annual interest, use 0.12/12 for Rate and 4*12 for Nper. If you make annual payments on the same loan, use 0.12 for Rate and 4 for Nper.
For all the arguments, cash you pay out, such as deposits to savings, is represented by negative numbers; cash you receive, such as dividend checks, is represented by positive numbers.

Example:

FV(.06/12, 10, -200, -500, 1) = 2581.40