FVSCHEDULE( ) function

Returns the future value of a current lump sum calculated using a series of interest rates.

Syntax

FVSCHEDULE(principal, rate1 <,rate2...>)

Parameters

Name	Type	Description
principal	numeric	The amount of the initial investment.
rate1, rate2...	numeric	A series of interest rates for equal-length periods. Note The periods can represent months or years, or some other time period, as long as the type of time period is consistent. You must specify the interest rates per period. So, if one of the interest rates is 5% per annum and the periods are months, specify 0.05/12.

Output

Numeric. The result is calculated to two decimal places.

Examples

Basic examples

Returns 1282.93, the future value of a lump sum of $1000 invested for 3 years at 10% for the first year, 9% for the second year, and 7% for the third year, compounded annually:

FVSCHEDULE(1000, 0.1, 0.09, 0.07)

Remarks

The future value of an invested lump sum is the initial investment principal plus the accumulated compound interest.