# FV

## Content

This function returns the future value of an investment based on a present value, periodic payments, and a specified interest rate.

## Syntax

`FV(rate, numper, paymt, [pval], [type])`

## Arguments

This function has these arguments:

| Argument | Description |
| -------- | ----------- |
| *rate* | [Required] Interest rate expressed as percentage (per period) |
| *numper* | [Required] Total number of payment periods |
| *paymt* | [Required] Payment made each period |
| *pval* | [Optional] Present value; if omitted, uses zero and the calculation is based on the *paymt* argument. |
| *type* | [Optional] Indicates when payments are due; at the end (0) or beginning (1) of the period; if omitted, the calculation uses the end (0) |

## Remarks

Use consistent units for specifying the rate and number of periods arguments. If you make monthly payments on a five-year loan at 8 percent annual interest, use 0.08/12 for the rate argument and 5\*12 for the number of periods argument. If you make annual payments on the same loan, use 0.08 for the rate and 5 for a number of periods.
For the arguments, money paid out (such as deposits in an investment) is represented by negative numbers; money you receive (such as dividend checks) is represented by positive numbers.
See the [PV](/document-solutions/dot-net-excel-api/docs/online/formula-reference/financial-functions/fv) function for the equations for calculating financial values.

## Examples

`FV(A1/12,48,B1,1000,0)`
`FV(R1C1/12,48,R1C2,1000,0)`
`FV(0.005,60,-100,100,1)` gives the result of 6877.00