# Visual Basic for Applications Reference

**Visual Studio 6.0**

# FV Function

Returns a Double specifying the future value of an annuity based on periodic, fixed payments and a fixed interest rate.

**Syntax**

**FV( rate**,

**,**

*nper***[,**

*pmt***[,**

*pv***]]**

*type***)**

The **FV** function has these named arguments:

Part | Description |

rate | Required. Double specifying interest rate per period. For example, if you get a car loan at an annual percentage rate (APR) of 10 percent and make monthly payments, the rate per period is 0.1/12, or 0.0083. |

nper | Required. Integer specifying total number of payment periods in the annuity. For example, if you make monthly payments on a four-year car loan, your loan has a total of 4 * 12 (or 48) payment periods. |

pmt | Required. Double specifying payment to be made each period. Payments usually contain principal and interest that doesn't change over the life of the annuity. |

pv | Optional. Variant specifying present value (or lump sum) of a series of future payments. For example, when you borrow money to buy a car, the loan amount is the present value to the lender of the monthly car payments you will make. If omitted, 0 is assumed. |

type | Optional. Variant specifying when payments are due. Use 0 if payments are due at the end of the payment period, or use 1 if payments are due at the beginning of the period. If omitted, 0 is assumed. |

**Remarks**

An annuity is a series of fixed cash payments made over a period of time. An annuity can be a loan (such as a home mortgage) or an investment (such as a monthly savings plan).

The ** rate** and

**arguments must be calculated using payment periods expressed in the same units. For example, if**

*nper***is calculated using months,**

*rate***must also be calculated using months.**

*nper*For all arguments, cash paid out (such as deposits to savings) is represented by negative numbers; cash received (such as dividend checks) is represented by positive numbers.

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