**Syntax**

=FV(rate, nper, pmt, [pv], [type])

**Arguments**

**rate -**The interest rate per period.

**nper -**The total number of payment periods.

**pmt -**The payment made each period. Must be entered as a negative number.

**pv -**[optional] The present value of future payments.

**type -**[optional] When payments are due

For example, suppose you invest $10,000 at an annual interest rate of 5% for 10 years and make monthly payments of $100. You can use the FV function to calculate the future value of your investment as follows:

=FV(5%/12, 10*12, -100, -10000)

The first argument 5%/12 converts the annual interest rate to a monthly rate. The second argument 10*12 converts the total number of years to the total number of months. The third argument -100 represents the monthly payment you make, which is negative because it represents an outgoing payment. The fourth argument -10000 is the initial investment, which is also negative because it represents an outgoing payment. The FV function will return the future value of your investment after 10 years