## Summary

The Excel FV function is a financial function that returns the future value of an investment. You can use the FV function to get the future value of an investment assuming periodic, constant payments with a constant interest rate.

## Purpose

Get the future value of an investment

future value

## Arguments

• rate - The interest rate per period.
• nper - The total number of payment periods.
• pmt - The payment made each period. Must be entered as a negative number.
• pv - [optional] The present value of future payments. If omitted, assumed to be zero. Must be entered as a negative number.
• type - [optional] When payments are due. 0 = end of period, 1 = beginning of period. Default is 0.

## Syntax

=FV(rate, nper, pmt, [pv], [type])

## How to use

The future value (FV) function calculates the future value of an investment assuming periodic, constant payments with a constant interest rate.

Notes:

1. Units for rate and nper must be consistent. For example, if you make monthly payments on a four-year loan at 12 percent annual interest, use 12%/12 (annual rate/12 = monthly interest rate) for rate and 4*12 (48 payments total) for nper. If you make annual payments on the same loan, use 12% (annual interest) for rate and 4 (4 payments total) for nper.

2. If pmt is for cash out (i.e deposits to saving, etc), payment value must be negative; for cash received (income, dividends), payment value must be positive.

Author

### Dave Bruns

Hi - I'm Dave Bruns, and I run Exceljet with my wife, Lisa. Our goal is to help you work faster in Excel. We create short videos, and clear examples of formulas, functions, pivot tables, conditional formatting, and charts.