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Financial
The Excel FVSCHEDULE function returns the future value of a principal after applying a series of different (variable) interest rates.
Quick answer:
=FVSCHEDULE(10000, {0.05,0.04,0.06}) // three varying rates
Syntax
=FVSCHEDULE(principal, schedule)
| Argument | Description | |
|---|---|---|
principal | Required | The starting amount. |
schedule | Required | A range or array of interest rates to apply in sequence. |
How to use it
FVSCHEDULE returns the future value of a principal after applying a series of different (variable) interest rates.
=FVSCHEDULE(10000, {0.05,0.04,0.06}) // grows through 3 different rates
Try it: interactive demo
Live demo
This is the formula pattern FVSCHEDULE uses — copy it into Excel with your own numbers.
Result: computed in Excel
Practice workbook
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Frequently asked questions
When do I use FVSCHEDULE instead of FV?
When the rate changes each period — e.g. variable-rate accounts or scenario projections.
How are the rates applied?
In order: principal × (1+r1) × (1+r2) × …
Which Excel versions support it?
All modern versions.
Why might it return #NUM! or #VALUE!?
Out-of-range arguments (e.g. negative rate or settlement after maturity) give #NUM!; non-numeric inputs give #VALUE!.
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