Finance function
Excel FV function
FV calculates what an investment will be worth in the future, given a fixed interest rate and regular deposits. Use it to plan a savings goal, a retirement account, or a college fund.
=FV(rate, nper, pmt, [pv], [type])Arguments
rate- The interest rate per period. Divide an annual rate by 12 for monthly deposits.
nper- The total number of deposits.
pmt- The amount you add each period. Enter it as a negative number.
pv- Optional. A starting balance, also negative.
type- Optional. 0 for deposits at the end of each period (default), 1 for the start.
FV examples
Every result below was calculated live from this sample sheet.
| A | B | C | D | E | |
|---|---|---|---|---|---|
| 1 | Goal | Monthly deposit | Annual rate | Years | Starting balance |
| 2 | Emergency fund | 200 | 0.04 | 3 | 0 |
| 3 | Retirement | 300 | 0.07 | 20 | 5000 |
| 4 | College fund | 150 | 0.05 | 18 | 1000 |
Result: 7636.31
Saving 200 a month at 4% for 3 years grows to about 7,636.
Result: 176471.69
Adds a 5,000 starting balance to the retirement plan.
Result: 55053.56
Type 1 means each deposit is made at the start of the month, so it earns a little more.
Result: 9835.76
No deposits at all: 5,000 left alone at 7% a year for 10 years.
How to use FV
- Click the cell for the result.
- Type =FV( and the annual rate divided by 12.
- Add the number of deposits, years times 12.
- Add the deposit as a negative number, and a starting balance if you have one.
- Press Enter.
Common FV mistakes
Entering deposits as positive numbers
Money you put in is negative in Excel finance functions. Positive deposits give a negative future value.
Mixing yearly and monthly units
If you deposit monthly, divide the rate by 12 and multiply the years by 12.
Expecting it to handle changing deposits
FV assumes the same deposit every period. Build a year-by-year table for changing amounts.
FV FAQ
How do I calculate compound interest in Excel?
Use FV. For a lump sum, =FV(rate,years,0,-amount). For monthly saving, =FV(rate/12,years*12,-deposit).
Why is my FV result negative?
Your deposit or starting balance was entered as positive. Make them negative and the future value turns positive.
What is the difference between FV and PV in Excel?
FV tells you what money will be worth later. PV tells you what a future amount or stream of payments is worth today.
Practice FV in these lessons
Guides that use FV
Related functions
Updated 2026-10-31