# WorksheetFunction.Fv Method (Excel)

Office 2013 and later
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Returns the future value of an investment based on periodic, constant payments and a constant interest rate.

## Syntax

expression .Fv(Arg1, Arg2, Arg3, Arg4, Arg5)

expression A variable that represents a WorksheetFunction object.

### Parameters

Name

Required/Optional

Data Type

Description

Arg1

Required

Double

Rate - the interest rate per period.

Arg2

Required

Double

Nper - the total number of payment periods in an annuity.

Arg3

Required

Double

Pmt - the payment made each period; it cannot change over the life of the annuity. Typically, pmt contains principal and interest but no other fees or taxes. If pmt is omitted, you must include the pv argument.

Arg4

Optional

Variant

Pv - the present value, or the lump-sum amount that a series of future payments is worth right now. If pv is omitted, it is assumed to be 0 (zero), and you must include the pmt argument.

Arg5

Optional

Variant

Type - the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.

Double

## Remarks

For a more complete description of the arguments in FV and for more information on annuity functions, see PV.

Set type equal to

If payments are due

0

At the end of the period

1

At the beginning of the period

• Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a four-year loan at 12 percent annual interest, use 12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 12% for rate and 4 for nper.

• For all the arguments, cash you pay out, such as deposits to savings, is represented by negative numbers; cash you receive, such as dividend checks, is represented by positive numbers.