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FV Function

The Excel FV function is used to return the future value of an investment based on constant payments and a constant interest rate.

The syntax for the FV function is:

= FV (rate, nper, pmt, [pv], [type])

ArgumentPurpose
rateThe interest rate per periodFor example 7%/12 for monthly payments
nperThe number of payment periods
pmtThe payment amount per period
pvThe present value, or amount that the number of future payments is worth nowIf omitted, then the pv is 0
typeWhen the payments are made0 – Payments are made at the end of the period1 – Payments are made at the beginning of the periodIf omitted, type is 0

The examples below show the FV function being used calculate the total savings based on different parameters.

Excel FV function
FunctionResult
=FV(C5/12,D5*12,B5)£5,856.50
=FV(C5/12,D5*12,B5,-250,1)£6,178.08
=FV(C5/52,5*52,-50)£14,954.22

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