Syntax
FV(rate, nper, pmt, [pv], [type])
| Parameter | Description |
|---|---|
| rate | Parameter of the FV function. |
| nper | Parameter of the FV function. |
| pmt | Parameter of the FV function. |
| [pv] | (Optional.) Parameter of the FV function. |
| [type] | (Optional.) Parameter of the FV function. |
Examples
Monthly savings over 10 years
Formula
=FV(0.07/12, 120, -500)
$86,541.51. Saving $500/month for 10 years at 7% annual return grows to about $86,542.
Lump sum growth
Formula
=FV(0.08/12, 240, 0, -10000)
$49,268.03. A one-time $10,000 investment at 8% annual return grows to about $49,268 over 20 years.
Combined lump sum and monthly contributions
Formula
=FV(0.06/12, 360, -200, -5000)
$215,452.70. Starting with $5,000 and adding $200/month for 30 years at 6% yields over $215K.
Common Errors
#VALUE!
An argument is non-numeric, such as a text string in place of rate or nper.
#NUM!
The combination of arguments produces an impossible calculation (extremely rare with FV).
Tips
Payments are negative, future value is positive
Enter payments as negative numbers (money leaving your wallet) and the result will be positive (money you'll have). This follows standard cash flow sign convention.
Match rate to period
If you make monthly contributions, divide the annual rate by 12 and multiply years by 12 for nper. Mismatched periods give wildly wrong answers.
Retirement planning shortcut
Use FV to quickly compare scenarios: what if you save $300 vs $500 per month? What if you get 6% vs 8% returns? Change one parameter at a time.
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