# 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.