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Plug your numbers in the boxes below, press the Build it! button, and we'll build your formula. We'll even give you the answer.

When you're done, you can paste the formula into your own Excel worksheet.

Interest rate:
(such as 5)

Length of investment:
(in years, such as 10)

Payment amount:
(such as -500)


This is your formula:

And here's your answer:

Try another?

FV function, scenario #1: Use it to find the future value of a series of payments

Calculates the future value for a series of constant payments (such as a payroll deduction for a 401K plan), assuming a constant interest rate.

For example, you're putting $500 away for retirement every month for 10 years, with an expected average return of 5% paid monthly. The future value of these payments to your retirement account will be $77,641.14.

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

Tip Wondering why [pv] and [type] are in square brackets? The brackets mean they're optional. If you don't include values for pv and type in your formula, Excel assumes your present value is 0, and that your payments are due at the end of the period.

Example =FV(5%/12,10*12,-500)

The FV function has the following arguments — when it's used for a series of payments, the first three are always required:

Rate (Required) The interest rate for the loan. For monthly payments, divide this by 12.

Nper (Required) The total number of payments for the loan. For monthly payments, multiply this by 12.

Pmt (Required) The payment you make every period for the life of the investment.

Pv (Optional) The beginning value of the investment. If you don't include a value for pv, it's assumed to be 0 (zero).

Type (Optional) The number 0 (zero) means the payments are due at the end of each period, and 1 means they're due at the beginning.


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