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FV Function

This standard VB function returns the future value for a constant periodic stream of cash flows as in an annuity or a loan.


FV(rate, nper, pmt, pv, due)



The interest rate per period


The total number of payment periods


The constant periodic payment per period


The present value or the initial lump sum amount paid (as in the case of an annuity) or received (as in the case of a loan)


An integer value indicating when the payments are due (0 = end of each period, 1 = beginning of the period)


A number representing the future value of an investment such as an annuity or loan.


The given interest rate is assumed constant over the life of the annuity.

If payments are on a monthly schedule and the annual percentage rate on the annuity or loan is 9%, the rate is 0.0075 (.0075 = .09/12).


This example finds the future value of an annuity, based on terms specified by the user.

Sub Button_Click
   Dim aprate, periods
   Dim payment, annuitypv
   Dim due, futurevalue
   Dim msgtext
   annuitypv = 100000
   aprate = 6.75
   If aprate >1 then
      aprate = aprate/100
   End If
   periods = 60
   payment = 10000
   ' Assume payments are made at end of month
   due = 0
   futurevalue = FV(aprate/12,periods,-payment,-annuitypv,due)
   msgtext = "The future value is: " & Format(futurevalue, "Currency")
End Sub

See Also

IPmt Function
IRR Function
NPV Function
Pmt Function
PPmt Function
PV Function
Rate Function

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