Returns a value specifying the future value of an annuity based on the specified periodic, fixed payments and fixed interest rate.
Syntax
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FV( Number rate, Number nper, Number payment, [Number pv = 0], [Number type = 0] ) → Currency |
Parameters
- rate
- Required. A value specifying the interest rate per period.
- nper
- Required. A value specifying the total number of payment periods in the annuity.
- payment
- Required. A value specifying the payment to be made each period.
- pv
- Optional. A value specifying the present value of a series of future payments. If omitted, pv is assumed to be 0.
- type
- Optional. A value specifying when the payments are due. If omitted, type is assumed to be 0.
Remarks
An annuity is a series of fixed cash payments made over a period of time. An annuity can be a loan (such as a home mortgage) or an investment (such as a monthly savings plan).
The rate and nper arguments must be calculated using payment periods expressed in the same units. For example, if rate is calculated using months, nper must also be calculated using months.
For all arguments, cash paid out (such as deposits to savings) is represented by negative numbers; cash received (such as dividend checks) is represented by positive numbers.
See Also
Function Reference
PV Function
NPER Function
PMT Function
RATE Function