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