# Financial.FV(Double, Double, Double, Double, DueDate) Method

## Definition

Returns a value specifying the future value of an annuity based on periodic, fixed payments and a fixed interest rate.

``public static double FV (double Rate, double NPer, double Pmt, double PV = 0, Microsoft.VisualBasic.DueDate Due = Microsoft.VisualBasic.DueDate.EndOfPeriod);``
``static member FV : double * double * double * double * Microsoft.VisualBasic.DueDate -> double``
``Public Function FV (Rate As Double, NPer As Double, Pmt As Double, Optional PV As Double = 0, Optional Due As DueDate = Microsoft.VisualBasic.DueDate.EndOfPeriod) As Double``

#### Parameters

Rate
Double

Required. The interest rate per period. For example, if you get a car loan at an annual percentage rate (APR) of 10 percent and make monthly payments, the rate per period is 0.1/12, or 0.0083.

NPer
Double

Required. The total number of payment periods in the annuity. For example, if you make monthly payments on a four-year car loan, your loan has a total of 4 x 12 (or 48) payment periods.

Pmt
Double

Required. The payment to be made each period. Payments usually contain principal and interest that doesn't change over the life of the annuity.

PV
Double

Optional. The present value (or lump sum) of a series of future payments. For example, when you borrow money to buy a car, the loan amount is the present value to the lender of the monthly car payments you will make. If omitted, 0 is assumed.

Due
DueDate

Optional. Object of type DueDate that specifies when payments are due. This argument must be either `DueDate.EndOfPeriod` if payments are due at the end of the payment period, or `DueDate.BegOfPeriod` if payments are due at the beginning of the period. If omitted, `DueDate.EndOfPeriod` is assumed.

#### Returns

The future value of an annuity based on periodic, fixed payments and a fixed interest rate.

## Examples

This example uses the `FV` function to return the future value of an investment given the percentage rate that accrues per period (`APR / 12`), the total number of payments (`TotPmts`), the payment (`Payment`), the current value of the investment (`PVal`), and a number that indicates whether the payment is made at the beginning or end of the payment period (`PayType`). Note that because `Payment` represents cash paid out, it is a negative number.

``````Sub TestFV()
Dim TotPmts As Integer
Dim Payment, APR, PVal, Fval As Double
Dim PayType As DueDate
Dim Response As MsgBoxResult

' Define money format.
Dim Fmt As String = "###,###,##0.00"
Payment = CDbl(InputBox("How much do you plan to save each month?"))
APR = CDbl(InputBox("Enter the expected interest annual percentage rate."))
' Ensure proper form.
If APR > 1 Then APR = APR / 100
TotPmts = CInt(InputBox("For how many months do you expect to save?"))
Response = MsgBox("Do you make payments at the end of month?", MsgBoxStyle.YesNo)
If Response = MsgBoxResult.No Then
PayType = DueDate.BegOfPeriod
Else
PayType = DueDate.EndOfPeriod
End If
PVal = CDbl(InputBox("How much is in this savings account now?"))
Fval = FV(APR / 12, TotPmts, -Payment, -PVal, PayType)
MsgBox("Your savings will be worth " & Format(Fval, Fmt) & ".")
End Sub
``````

## Remarks

An annuity is a series of fixed cash payments made over time. An annuity can be a loan (such as a home mortgage) or an investment (such as a monthly savings plan).

The `Rate` and `NPer` arguments must be calculated using payment periods expressed in the same units. For example, if `Rate` is calculated using months, `NPer` must also be calculated using months.

For all arguments, cash paid out (such as deposits to savings) is represented by negative numbers; cash received (such as dividend checks) is represented by positive numbers.