fvfix

Future value with fixed periodic payments

Syntax

FutureVal = fvfix(Rate, NumPeriods, Payment, PresentVal, Due)

Arguments

Rate

Periodic interest rate, as a decimal fraction.

NumPeriods

Number of periods.

Payment

Periodic payment.

PresentVal

(Optional) Initial value. Default = 0.

Due

(Optional) When payments are due or made: 0 = end of period (default), or 1 = beginning of period.

Description

FutureVal = fvfix(Rate, NumPeriods, Payment, PresentVal, Due) returns the future value of a series of equal payments.

Examples

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Return the Future Value of a Series of Equal Payments

This example shows how to compute the future value of a series of equal payments using a savings account that has a starting balance of $1500. $200 is added at the end of each month for 10 years and the account pays 9% interest compounded monthly.

FutureVal = fvfix(0.09/12, 12*10, 200, 1500, 0)
FutureVal =

   4.2380e+04

See Also

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