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1. Preface
2. The Transformation Language
3. Constants
4. Operators
5. Variables
6. Dates
7. Functions
8. Creating Custom Functions
9. Custom Function API Reference # FV

Returns the future value of an investment, where you make periodic, constant payments and the investment earns a constant interest rate.

## Syntax

`FV( rate, terms, payment [, present value, type] )`
The following table describes the arguments for this command:
Argument
Required/
Optional
Description
rate
Required
Numeric. Interest rate earned in each period. Expressed as a decimal number. Divide the percent rate by 100 to express it as a decimal number.
terms
Required
Numeric. Number of periods or payments. Must be greater than 0.
payment
Required
Numeric. Payment amount due per period. Must be a negative number
present value
Optional
Numeric. Current value of the investment. If you omit this argument, FV uses 0.
type
Optional
Integer. Timing of the payment. Enter 1 if payment is at the beginning of period. Enter 0 if payment is at the end of period. Default is 0. If you enter a value other than 0 or 1, the
PowerCenter Integration Service
treats the value as 1.

Numeric.

## Example

You deposit \$2,000 into an account that earns 9% annual interest compounded monthly (monthly interest of 9%/12, or 0.75%). You plan to deposit \$250 at the beginning of every month for the next 12 months. The following expression returns \$5,337.96 as the account balance at the end of 12 months:
`FV(0.0075, 12, -250, -2000, TRUE)`

## Notes

To calculate interest rate earned in each period, divide the annual rate by the number of payments made in a year. The payment value and present value are negative because these are amounts that you pay. Updated July 27, 2022

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