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FV.

Calculates the future value of an investment with periodic payments.

SyntaxArgumentsExampleInteractive SandboxGeneratorCompatibilityFAQRelatedCheat Sheet
Category: Financial
ExcelExcel 365Excel 2021Excel 2019Google Sheets

How it works.

FV calculates the future value of an investment based on a constant interest rate and periodic payments over time.

Formula syntax.

Standard Excel Notation
=FV(rate, nper, pmt, [pv], [type])
Tip:Arguments wrapped in square brackets [like_this] are optional; all other arguments are required.

Formula arguments.

Every parameter accepted by the FV function is detailed below.

rateRequired

Interest rate per compounding period (e.g. 5%/12).

Example value: 0.05/12
nperRequired

Total number of payment periods (e.g. 60).

Example value: 60
pmtRequired

Payment made each period (negative number for cash outflow).

Example value: -200
pvOptional

Initial lump sum present value (default is 0).

Default: 0

Simple example.

Step-by-Step Scenario

Retirement Savings - Future Value

Estimate future balance saving $200/month at 5% annual interest for 5 years.

Annual RateMonthsMonthly DepositProjected Future Value
0.0560200—
Applied Formula
=FV(A2/12, B2, -C2, 0)
Expected Result:13600.58

Evaluates FV over the sample table cells, placing the verified output in cell D2.

Formula generator.

Full Generator Wizard

Customize the argument fields below to generate a tailored FV formula ready to paste directly into your worksheet.

Generated FormulaReady to copy
=FV()

Expected result behavior.

Returns number 13600.58 based on sample evaluation criteria and active cell references.

Sample Output:13600.58
Output Type:Numeric (Double/Integer)

Best Practices

  • Ensure rate and nper are in the same timeframe (e.g. annual rate / 12 for monthly payments).

Common Mistakes

  • Cash outflows (money you put in) must be entered as negative numbers.
Compatibility Database

Platform & version compatibility.

Verified platform compatibility matrix based on actual spreadsheet calculation engine specifications.

Excel✓
Supported
Excel 365✓
Supported
Excel 2021✓
Supported
Excel 2019✓
Supported
Google Sheets✓
Supported
Microsoft Excel History & Version Availability

Core standard function supported across all modern and legacy Microsoft Excel versions (365, 2021, 2019, 2016, 2013, 2010), as well as Excel for the Web and Mac.

Google Sheets Compatibility Notes

100% compatible with Google Sheets. Uses identical argument order, data types, and standard calculation logic.

Frequently asked questions.

Technical Q&A
Can I use FV across different worksheets in Excel?↓

Yes. You can reference cells located on other sheets by including the sheet name followed by an exclamation mark, for example: =FV(Sheet2!A2:A10). If the sheet name contains spaces, enclose it in single quotes: ='Q1 Report'!A2:A10.

What is the most common reason for errors in FV?↓

Cash outflows (money you put in) must be entered as negative numbers.

Does FV work identically in Google Sheets?↓

Yes, FV is supported in both Microsoft Excel and Google Sheets with standard evaluation behavior.