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Function Declaration
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Function FV(Rate As Double, NPer As Double, Pmt As Double, PV As Variant, Due As Variant) As Double
|
Parameter |
Description |
|---|---|
|
Rate |
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 |
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. |
|
Pmt |
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 |
Double data value specifying present value (or lump sum) of a series of future payments. For example, when borrowing money to buy a car, the loan amount is the present value to the lender of the monthly car payments that will be made. If omitted, the data value 0 is assumed. |
|
Due |
Integer data value specifying when payments are due. Use the data value 0 if payments are due at the end of the payment period, or use the data value 1 if payments are due at the beginning of the period. If omitted, the data value 0 is assumed. |
Runtime Semantics.
§ Returns a Double specifying the future value of an annuity based on periodic, fixed payments and a fixed interest rate.
§ 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.