FV

Syntax: FV(P, R, N)

P = periodic payment
R = interest rate
N = number of periods

FV returns the future value of an annuity given periodic payment P, interest rate R, and N number of periods. The function is given by:

$$\mbox{\it FV} = P \frac{(1+R)^N-1}{R}$$

Examples:

FV(100, 0.085, 5) = 592.54

FV(G7, C2, 2) = 6240, where C2 = 8% and G7 = $3000.00

FV(1000, 0.075, 1.5) = Error-FV, ``Period'' must be an integer $>$ 0

Excel function: N/A