All versions
Financial
The Excel FV function returns the future value of an investment — how much regular deposits at a fixed rate will grow to, the engine behind savings and retirement projections.
Quick answer:
=FV(5%/12, 10*12, -200) // about $31,056
Syntax
=FV(rate, nper, pmt, [pv], [type])
| Argument | Description | |
|---|---|---|
rate | Required | Interest rate per period. |
nper | Required | Number of periods. |
pmt | Required | Payment made each period (negative for deposits). |
pv | Optional | Present value / starting balance (default 0). |
type | Optional | 0 end (default), 1 start. |
How to use it
Saving $200/month for 10 years at 5%:
=FV(5%/12, 10*12, -200) // grows to about $31,056
Cash-flow sign convention: money you pay out is negative, money you receive is positive. That is why loan payments and present values often come back negative — wrap in a minus sign or ABS for display.
Try it: interactive demo
Live demo
Change the inputs and watch the result update.
Result:
Practice workbook
Download the free FV practice workbook
Every example on this page, ready to open in Excel — plus practice challenges with answers on a separate tab. No sign-up required.
Frequently asked questions
Why enter the payment as negative?
Deposits are cash out of your pocket; the convention makes the resulting future value positive.
Can I include a starting lump sum?
Yes — put it in the pv argument (negative if you’re investing it).
How do I model monthly vs annual?
Use a per-period rate and matching period count: monthly = rate/12 and years×12.
FV vs FVSCHEDULE?
FV uses one constant rate; FVSCHEDULE applies a series of different rates in turn.
Master functions like this in one day
This page covers one function. Our Excel Formulas and Functions class covers the 30 that matter most — live, hands-on, taught by professionals in Dallas–Fort Worth, Houston, Austin, Oklahoma City, Denver, or online.
See the Formulas & Functions Class