FV

Definition: FV is a function that returns the future value of an investment.

Syntax: =FV(rate, nper, pmt, [pv], [type])

Situation: This formula is suitable when you need to find the future value of an investment.

Example: If you invest $1000 per month for 5 years at an annual interest rate of 6%, the future value can be found using the formula =FV(6%/12, 5*12, -1000), which returns $77,537.68.