Microsoft Office Tutorials and References
In Depth Information
Figure 13.6. You can estimate the future value of a regular savings plan.
You can estimate the future value of a regular savings plan.
The FV function returns the future value of an investment, based on periodic,
constant payments and a constant interest rate. This function takes the fol-
rate — This is the interest rate per period.
nper — This is the total number of payment periods in an annuity.
pmt — This is the payment made each period; it cannot change over the
life of the annuity. Typically, pmtcontains principal and interest
but no other fees or taxes. If pmtis omitted, you must include the pv
• ppv — This is the present value, or the lump-sum amount that a series
of future payments is worth right now. If pvis omitted, it is assumed
to be 0, and you must include the pmtargument.
type — This is either 0 or 1 to indicate when payments are due. The de-
fault value of 0 assumes that payments are due at the end of the