# Manuals/calci/FV

FV (Rate,NoPaymentPeriods,Payment,PresentValue,Type)

Where

• is the rate of interest per period,
• is the total number of payment periods in an annuity,
• is the payment value for each period,
• is the present value, and
• is value 0 or 1 indicating when the payments are due.
• FV() calculates the future value of an investment depending on payment periods, payment value and interest rate.

## Description

FV(Rate, NoPaymentPeriods, Payments, PresentValue, Type)

• Argument is optional. If is omitted, should be included.
• Argument is optional. If is omitted, it is assumed to be zero(0) and argument should be included.
• Argument can be 0 or 1. Below table indicates the selection of type value -
Type value Description
0 Payments due at the end of the period
1 Payments due at the beginning of the period
• If is other than 0 or 1, Calci displays #N/A error message.
• 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

Consider the following example that shows the use of FV function:

 2% 4.5% 11 5 -50 -45 -800 -1000 1 0
```=FV(A1/12,A2,A3,A4,A5) : Calculates the future value for the values in the range A1 to A5. Annual interest rate is compounded monthly. Displays 1370.3201724868504 as a result.
=FV(B1/12,B2,B3,B4,B5) : Calculates the future value for the values in the range B1 to B5. Annual interest rate is compounded monthly. Displays 1245.5849933323898 as a result.
=FV(0.04/12,10,-1000,1) : Annual interest rate is compounded monthly and PresentValue is omitted. Displays 10150.307304505215 as a result.
```

FV