FV (Primitive Spread Function) returns the future value of an investment based on a present value, periodic payments, and a specified interest rate.

SYNTAX:

FV(Rate,Nper,Pmt,Pv,Type)

REMARKS:

Arguments are as follows:

Argument Description 
Rate Interest rate expressed as percentage (per period) 
Nper Total number of payment periods 
Pmt Payment made each period 
Pv (Optional) Present value
If omitted, it is assumed to be zero and the calculation is based on the Pmt argument. 
Type (Optional) Indicates when payments are due
If omitted, it is assumed that the payments are made at the end of the period. 
 Set Type equal to                                      If payments are due 
 0                                                          At the end of the period 
 1                                                          At the beginning of the period 

Note: You must specify a value for the Pv argument if you are going to specify a value for the Type argument. 

Use consistent units for specifying the Rate and Nper 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 Nper argument. If you make annual payments on the same loan, use 0.08 for Rate and 5 for Nper.

For all 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 function for the formula used to calculate financial values. 

EXAMPLES:

FV(0.005,60,-100,100,1)=6877