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Financial function
FVSCHEDULE
Returns the future value after applying a series of different rates.
Rarely usedDifficulty 1400 · AdvancedUsage rank #348 of 520
When to use it
Future value of a principal under a series of different rates, one per period. Variable-rate deposits and back-tested returns.
The shape of it
- Syntax
=FVSCHEDULE(principal, schedule)
Worked examples
Three rates
=FVSCHEDULE(1,{0.09,0.11,0.1}) → 1.33089
Three years at 9%, 11%, then 10%.
Growth of a deposit
=FVSCHEDULE(10000,{0.05,0.03,0.04}) → 11,247.60
10,000 through three yearly returns.
From a range
=FVSCHEDULE(1000,B2:B13) → 1,082.43
Twelve monthly rates from a range.
Worth knowing
- Same as principal × PRODUCT(1+rates).
- Blanks in the range count as 0%.
- Divide the result by the principal, minus 1, for the cumulative return.
Where it goes wrong
- Text in the schedule returns #VALUE!.
- Rates must be decimals, not percentages typed as whole numbers.
Related
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