# 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 |

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