Returns a Double specifying the future value of an annuity based on periodic, fixed payments and a fixed interest rate.
Function FV( _ ByVal Rate As Double, _ ByVal NPer As Double, _ ByVal Pmt As Double, _ Optional ByVal PV As Double = 0, _ Optional ByVal Due As DueDate = DueDate.EndOfPeriod _ ) As Double
- 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.
- Required. Double 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.
- 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.
- Optional. Double 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.
- Optional. Object of type
Microsoft.VisualBasic.DueDatethat specifies when payments are due. This argument must be either
DueDate.EndOfPeriodif payments are due at the end of the payment period, or
DueDate.BegOfPeriodif payments are due at the beginning of the period. If omitted,
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 NPer arguments must be calculated using payment periods expressed in the same units. For example, if Rate is calculated using months, NPer must also be calculated using months.
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.
This example uses the FV function to return the future value of an investment given the percentage rate that accrues per period (
APR / 12), the total number of payments (
TotPmts), the payment (
Payment), the current value of the investment (
PVal), and a number that indicates whether the payment is made at the beginning or end of the payment period (
PayType). Note that because
Payment represents cash paid out, it is a negative number.
Sub TestFV() Dim Fmt As String Dim TotPmts As Integer Dim Payment, APR, PVal, Fval As Double Dim PayType As DueDate Dim Response As MsgBoxResult Fmt = "###,###,##0.00" ' Define money format. Payment = CDbl(InputBox("How much do you plan to save each month?")) APR = CDbl(InputBox("Enter the expected interest annual percentage rate.")) If APR > 1 Then APR = APR / 100 ' Ensure proper form. TotPmts = CInt(InputBox("For how many months do you expect to save?")) Response = MsgBox("Do you make payments at the end of month?", MsgBoxStyle.YesNo) If Response = MsgBoxResult.No Then PayType = DueDate.BegOfPeriod Else PayType = DueDate.EndOfPeriod End If PVal = CDbl(InputBox("How much is in this savings account now?")) Fval = FV(APR / 12, TotPmts, -Payment, -PVal, PayType) MsgBox("Your savings will be worth " & Format(Fval, Fmt) & ".") End Sub
Assembly: Microsoft Visual Basic .NET Runtime (in Microsoft.VisualBasic.dll)