## Summary

The Excel FVSCHEDULE function returns the future value of a single sum based on a schedule of given interest rates. FVSCHEDULE can be used to find the future value of an investment with a variable or adjustable rate.

## Purpose

Get future value of principal compound interest

Future value

## Syntax

``=FVSCHEDULE(principal,schedule)``
• principal - The initial investment sum.
• schedule - Schedule of interest rates, provided as range or array.

## How to use

The FVSCHEDULE function calculates the future value of a single sum based on a schedule of interest rates. The interest rates can vary in each period. As such, FVSCHEDULE can be used to find the future value of an investment with a variable or adjustable rate.

By contrast, the FV function can also be used to find the future value of a sum based on a given interest rate, it can't handle different rates in different periods.

### Example

In the example shown, an initial sum of \$1000 is invested for 4 years. In each year, the rate is different as shown below:

Period Rate
Year 1 2.00%
Year 2 3.00%
Year 3 4.00%
Year 4 5.00%

In the example, the rates are entered in the range C8:C11. The formula in F5 is:

``````=FVSCHEDULE(C5,C8:C11)
``````

FVSCHEDULE returns \$1,147.26, when currency number format is applied.

### Schedule

The values in schedule can be provided as a range of cells (per the example) or an array constant. For example, the formula below provides the principal as C5, but rates are hardcoded into an array constant:

``````=FVSCHEDULE(C5,{0.02;0.03;0.04;0.05})
``````

The result is the same as above, \$1,147.26.

### Notes

• Blank cells in the schedule are treated as zeros
• FVSCHEDULE will return #VALUE if any values are non-numeric 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.