Quick Answer

FVSCHEDULE Function

Calculates the future value of a principal after applying a series of compound interest rates.

Syntax

FVSCHEDULE

(principal, schedule)

Parameters

Parameter	Description	Required
principal	Present value or initial investment.	Required
schedule	Array of interest rates to apply for each period.	Required

Basic Example

Future value with varying annual rates

=FVSCHEDULE(10000, B2:B5)

ResultFuture value

B2:B5 contains the annual interest rates for each period.

Advanced Examples

Example 1: Fixed rates entered directly

Forecasting

Future value after three years of varying rates

=FVSCHEDULE(10000, {0.05, 0.06, 0.04})

Result: $11,552.00

Principal grows at 5%, then 6%, then 4% over three years.

How FVSCHEDULE Works

FVSCHEDULE multiplies the principal by (1 + rate1) * (1 + rate2) * ... for each rate in the schedule. This models compound growth with changing rates.

1

Enter principal

Type the principal

2

Enter schedule

Type the schedule

3

Calculate

Press Enter to get the result.

Important Notes & Limitations

Schedule values must be decimal rates (e.g., 0.05 for 5%).
Schedule values can be negative for losses.
Does not handle periodic payments.

Common Errors & Fixes

#VALUE! errorSchedule values are text or non-numeric.

Fix: Ensure rates are numeric.

Wrong resultRates were entered as percentages (e.g., 5) instead of decimals (e.g., 0.05).

Fix: Use decimal rates.

Download Practice File

Practice FVSCHEDULE with Real Data

Download a sample CSV file with pre-populated data and practice exercises for the FVSCHEDULE function. Works in both Excel and Google Sheets.

Works in Google SheetsCompatible with ExcelIncludes exercises

File format: CSV (comma-separated values) - opens in Excel, Google Sheets, and all spreadsheet apps

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AMORLINC

Calculates depreciation for a specific period using the French straight-line method.

COUPDAYBS

Calculates the number of days from the beginning of the coupon period to the settlement date.

COUPDAYS

Calculates the number of days in the coupon period that contains the settlement date.

Frequently Asked Questions

What is the difference between FV and FVSCHEDULE?

FV uses a constant rate. FVSCHEDULE uses a series of different rates.

Can FVSCHEDULE handle payments?

No, it only handles a single principal and a rate schedule.