# Documentation

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# 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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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 ```