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> Index of every page on this site: [llms.txt](https://practiceexcelonline.com/llms.txt)

# **The FV function**

Returns the future value of an investment with equal regular payments and a fixed interest rate. Money you pay in is negative, so the result is positive.

=

FV(

## **Syntax**

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

<dl><dt>**rate **</dt>
<dd>The interest rate per period. For monthly deposits on an annual rate, divide it by 12.</dd>
<dt>**nper **</dt>
<dd>The number of periods, such as 10*12 for ten years of monthly deposits.</dd>
<dt>**pmt **</dt>
<dd>The payment made each period, negative for money paid in. Use 0 for none.</dd>
<dt>**pv **(optional)</dt>
<dd>What is in the account at the start, negative for money paid in. Left out, 0.</dd>
<dt>**type **(optional)</dt>
<dd>0 or left out if payments are made at the end of each period, 1 if at the start.</dd></dl>

## **Examples**

B1`=FV(<sup>1</sup>0.05/12,<sup>2</sup>10*12,<sup>3</sup>-200)`

|  | A | B |
| --- | --- | --- |
| 1 |  | **31056.45589** |

**In plain words:** What you have saved after <sup>2</sup>10 years of monthly deposits <sup>3</sup>of 200 at <sup>1</sup>5% a year, compounded monthly.

B1=FV(0.04,10,0,-10000)

|  | A | B |
| --- | --- | --- |
| 1 |  | **14802.44285** |

D1=FV(B2/12,B3\*12,-B1,-B4)

|  | A | B | C | D |
| --- | --- | --- | --- | --- |
| 1 | Monthly deposit | 500 |  | **264122.4923** |
| 2 | Annual interest rate | 0.06 |  | |
| 3 | Years | 20 |  | |
| 4 | Starting balance | 10000 |  | |

## **Practice FV**

- [**1****What savings grow to with FV**→](https://practiceexcelonline.com/practice/investments/fv-savings)

## **Questions**

<details>

<summary>

### Why does FV give a negative number?

</summary>

The payments were entered as positive numbers. Excel counts money you pay out as negative and money you get back as positive, so enter deposits as -200 to get a positive future value.

</details>

<details>

<summary>

### How do I use FV with monthly deposits and an annual rate?

</summary>

Put everything in months. Divide the annual rate by 12 and multiply the years by 12, as in =FV(5%/12,10\*12,-200).

</details>

## **Related functions**

- [**PV**](https://practiceexcelonline.com/functions/pv)
- [**PMT**](https://practiceexcelonline.com/functions/pmt)
- [**NPER**](https://practiceexcelonline.com/functions/nper)
- [**RATE**](https://practiceexcelonline.com/functions/rate)

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