# FV

Calculates the future value of an investment based on a constant interest rate. You can use FV with either periodic, constant payments, and/or a single lump sum payment.

## Syntax

FV(<rate>, <nper>, <pmt>[, <pv>[, <type>]])


### Parameters

Term Definition
rate The interest rate per period.
nper The total number of payment periods in an annuity.
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.
pv (Optional) 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 BLANK.
type (Optional) The number 0 or 1 which indicates when payments are due. If type is omitted, it is assumed to be 0. The accepted values are listed below this table.

The type parameter accepts the following values:

Set type equal to If payments are due
0 or omitted At the end of the period
1 At the beginning of the period

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

## Return Value

The future value of an investment.

## Remarks

• 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 0.12/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 0.12 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.

• type is rounded to the nearest integer.

• An error is returned if:

• nper < 1
• This function is not supported for use in DirectQuery mode when used in calculated columns or row-level security (RLS) rules.

## Example

Data Description
6% Annual interest rate
10 Number of payments
-200 Amount of the payment
-500 Present value
1 Payment is due at the beginning of the period (0 indicates payment is due at end of period)

The following DAX query:

EVALUATE
{
FV(0.06/12, 10, -200, -500, 1)
}


Returns the future value of an investment using the terms specified above.

[Value]
2581.40337406012