fvfix (Financial Toolbox)

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.

`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

A savings account 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. Using this data

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

returns

```
FutureVal =
            42379.89
```

See Also

fvvar, pvfix, pvvar

fvdisc fvvar