FutureValue Command

FutureValue( <Rate>, <Number of Periods>, <Payment>, <Present Value (optional)>, <Type (optional)> )

Returns the future value of an investment based on periodic, constant payments and a constant interest rate.

<Rate> Interest rate per period.
<Number of Periods> Total number of payment periods in an annuity.
<Payment> The amount paid in each period.
<Present Value (optional)> Total amount that a series of future payments is worth now. If you do not enter a value, it is assumed to be 0.
<Type (optional)> Indicates when payments are due. If you do not enter a value or you enter 0 the payment is due at the end of the period. If you enter 1 it is due at the beginning of the period.

FutureValue(10%/12, 15, -200, 0, 1) yields a future value of 3207.99.

Make sure that you are consistent about the units you use for <Rate> and <Number of Periods>. If you make monthly payments on a four-year loan at an annual interest rate of 10 percent, use 10%/12 for rate and 4*12 for number of payments.

For all arguments, cash paid out is represented by negative numbers and cash received by positive numbers.

See also Payment, Rate, Present Value and Periods commands.