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#Financial

FVSCHEDULE

Excel Functions

Get future value of principal compound interest

Syntax

EXCEL 
=FVSCHEDULE(principal, schedule)

Arguments

Parameter Description
principal The initial investment sum.
schedule Schedule of interest rates, provided as range or array.

Return Value

Future value

Details

The FVSCHEDULE function calculates the future value of a single sum based on a schedule of interest rates. The interest rates can vary in each period. As such, FVSCHEDULE can be used to find the future value of an investment with a variable or adjustable rate. By contrast, the FV function can also be used to find the future value of a sum based on a given interest rate, it can't handle different rates in different periods. In the example shown, an initial sum of $1000 is invested for 4 years. In each year, the rate is different as shown below: In the example, the rates are entered in the range C8:C11. The formula in F5 is: FVSCHEDULE returns $1,147.26, when currency number format is applied.

Examples

Example

In the example, the rates are entered in the range C8:C11. The formula in F5 is:

EXCEL 
=FVSCHEDULE(C5,C8:C11)
Schedule

The values in schedule can be provided as a range of cells (per the example) or an array constant. For example, the formula below provides the princip

EXCEL 
=FVSCHEDULE(C5,{0.02;0.03;0.04;0.05})

See Also

FV PV