# Manuals/calci/FVIFA

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**FVIFA (Rate,NumberOfPayments)**

Where

- is the rate of interest per period,
- is the total number of payment periods in an annuity,
- FVIFA() calculates the future value interest factor of annuity depending on payment periods, and interest rate.

## Description

FVIFA (Rate,NumberOfPayments)

- For monthly payment, Rate should be divided by 12 (e.g. 10%/12) and PaymentPeroid should be multiplied by 12 (e.g. 4*12).

## Examples

1. =FVIFA(4%/12,6) : Calculates the future value interest rate in annuity where annual interest rate is compounded monthly.

Displays **6.050222778519099** as a result.

2. =FVIFA(5%,20) : Calculates the future value interest rate in annuity

. Displays **33.06595410288845** as a result.

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## See Also

## References