FVSCHEDULE

Definition: FVSCHEDULE is a function that returns the future value of an initial principal after applying a series of compound interest rates.

Syntax: =FVSCHEDULE(principal, schedule)

Situation: This formula is suitable when you need to find the future value of an initial principal after applying a series of compound interest rates.

Example: If you have an initial principal of $1000 and a series of interest rates 5%, 6%, and 7%, the future value can be found using the formula =FVSCHEDULE(1000, {0.05, 0.06, 0.07}), which returns $1255.73.