Documentation/Calc Functions/FVSCHEDULE

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Calc Functions Home | List of functions | Abbreviations

Function name:

FVSCHEDULE

Category:

Financial Analysis

Summary:

Calculates the future value of a lump sum investment that offers variable compounded interest rates. The initial lump sum is often known as the principal.

Note the key distinction between the FV and FVSCHEDULE functions – the former assumes a fixed interest rate while the latter allows for a series of different interest rates.

Syntax:

FVSCHEDULE(Principal; Schedule)

Returns:

Returns a real number, which is the future value of the specified principal sum based on a given schedule of interest rates. The number returned is in the same currency unit as the specified principal sum.

Arguments:

Principal is a real number, or a reference to a cell containing that number, which is the value of the principal sum.

Schedule is a list of real numbers (each expressed as a percentage, such as 2.5%, or a decimal fraction, such as 0.025), which is the set of periodic interest rates to be applied to the principal. Schedule may be a specific cell range (for example, "$SourceData.A3:B12"), the name of a named or database range, or an inline array. Blank cells or cells containing non-numeric characters are ignored. It is common for interest rates to be quoted annually and, where necessary, care should be taken to convert such values to be compatible with the length of your interest period.

• If Principal is non-numeric, then FVSCHEDULE reports a #VALUE! error.

Additional details:

• The formula for FVSCHEDULE is:

[math]\displaystyle{ \text{FVSCHEDULE}~=~P ~\times~ (1+r_{1})~ \times~ (1+r_{2}) ~\times~ (1+r_{3}) ~\times \cdots \times~(1+r_{n}) }[/math]

where:

P = principal sum

r_i = the i^th entry in the list of interest rates specified in the Schedule argument

• For more information about the concept of future value, visit Wikipedia's Future value page.

Examples:

Formula	Description	Returns
=FVSCHEDULE(1000; {0.03; 0.04; 0.05})	1000 currency units have been invested for three years, at annual interest rates of 3%, 4%, and 5%. Here the function returns the value 1124.76, which is equal to [math]\displaystyle{ 1000 \times 1.03 \times 1.04 \times 1.05 }[/math].	1124.76
=FVSCHEDULE(A1; B1:B3) where cell A1 contains the value 1000 and cells B1 to B3 contain the values 3%, 4%, and 5% respectively.	Here the function performs exactly the same calculation as in the previous example, except all argument data is stored in separate cells.	1124.76
=FVSCHEDULE(2500; schedule_area) where schedule_area is a named range covering cells A1:C3. Cells A1 to C3 contain the values 3%, 4%, 5%, 6%, 5%, 4%, 3%, 3.5%, and 3.75% respectively.	Here the function reads the interest rate data from a two-dimensional cell range, which has been assigned the name schedule_area.	3599.92999329737

Related LibreOffice functions:

FV

ODF standard:

Section 6.12.21, part 2

Related (or similar) Excel functions:

FVSCHEDULE