Future Value (FV)
Syntax: FV(Interest; Time; Installment; Deposit; Type)
The FV function returns the future value of an initial lump deposit investment followed by the given number of regular, equal installments made over a length of time, assuming a constant rate of interest.
Figure 8-5. Sample result of the FV function
The time argument specifies the total number of payments, and the installment argument is the amount of money paid each time.
For example, if you want to know how much money you could save if you paid $100 each month for 25 years into a savings account that pays a constant interest of 5%, you could use the following formula: ...
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