## 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.

##### Syntax

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

Argument
Description

rate

The interest rate per period

nper

The total number of payment periods

pmt

The constant periodic payment per period

pv

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)

due

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

##### Returns

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

##### Usage

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).

##### Example

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