FV function
FV calculates what an investment will be worth in the future, given regular deposits, a starting balance and a constant rate of return. Use it for retirement and savings projections. Deposits you make are money going out of your pocket, so they are entered as negative numbers to get a positive result.
- Available in
- Every current version
- Category
- Financial functions
- Returns
- The balance at the end of the last period.
- Google Sheets
- Works the same in Google Sheets.
Syntax
=FV(rate, nper, pmt, [pv], [type])
| Argument | Required? | What it is |
|---|---|---|
rate | Required | The return per period, such as an annual rate divided by 12 for monthly deposits. |
nper | Required | The number of periods, such as years times 12. |
pmt | Required | The deposit made each period. Enter deposits as negative numbers. |
pv | Optional | The starting balance, also negative if you are putting it in. Defaults to 0. |
type | Optional | 0 or omitted for deposits at the end of each period, 1 for the beginning. |
Examples
Each result below is calculated from the sample sheet by our formula engine, the same one that grades the practice.
| Cell | Formula | Result | What it shows |
|---|---|---|---|
| D2 | =FV(B3/12,B4*12,-B2) | $49,164 | What $300 a month grows to in 10 years |
| D3 | =FV(B3/12,B4*12,-B2,-B5) | $58,261 | The same plan with the $5,000 starting balance |
| D4 | =FV(B3,B4,0,-B5) | $8,954 | The starting balance alone, compounded yearly |
Try it live
This is the sample sheet. Change any number or text, or edit a formula, and the results update.
Show the sample data as a table
| Input | Value | Result | |
| Monthly deposit | $300 | $49,164 | |
| Annual return | 6.0% | $58,261 | |
| Years | 10 | $8,954 | |
| Starting balance | $5,000 |
Practice FV
From lesson 26, Future & present value. Graded instantly, then re-checked on changed data.
Retirement savings
B8, calculate what the monthly contribution grows to over the years in B4 at the return in B3.Common mistakes
| What you see | Why, and how to fix it |
|---|---|
| A negative result | The deposits were entered as positive numbers. Use -B2 for money you put in. |
| A result that is far too large | An annual rate was paired with monthly periods. Divide the rate by 12. |
| Forgetting the starting balance | The pv argument is optional, so leaving it out quietly assumes you start from zero. |
Tips
- Compare FV with the total of the deposits (B2*B4*12) to see how much of the ending balance is growth.
Questions
How do I calculate compound interest on monthly savings in Excel?
Use =FV(annual_rate/12, years*12, -monthly_deposit). Add -starting_balance as the fourth argument if you already have savings.
Why does FV return a negative number?
The deposits were entered as positive. Excel treats money you pay in and money you get back with opposite signs.
Does FV account for inflation?
No. To see the result in today's money, use a real return (return minus inflation) as the rate.
Lessons that use FV
Last reviewed October 2026. Every example result on this page is calculated live by the Spreadsheet Practice formula engine.