Dated assumptions · transparent formulas
Excel FV Function
This student reference explains Excel FV arguments and gives a direct way to verify the calculator with a spreadsheet.
Educational calculator. Inputs stay in your browser. Historical ranges are not forecasts or investment advice.
Inputs
Estimate comparison
| Assumption | Rate | Nominal FV | Real FV |
|---|---|---|---|
| Lower estimate1-year Treasury constant maturity | 4.28% | $14,944.44 | Not requested |
| Middle estimateS&P 500 rolling 30-year total-return median | 10.80% | $21,449.87 | Not requested |
| Higher estimateS&P 500 rolling 30-year total-return 75th percentile | 12.04% | $23,057.97 | Not requested |
Growth curve and yearly schedule
The same projection engine draws each estimate and feeds the collapsible year-by-year detail.
- Lower estimate
- Middle estimate
- Higher estimate
Show year-by-year detail
| Year | Opening | Deposits | Interest | Ending |
|---|---|---|---|---|
| 1 | $0.00 | $1,200.00 | $61.22 | $1,261.22 |
| 2 | $1,261.22 | $1,200.00 | $204.38 | $2,665.60 |
| 3 | $2,665.60 | $1,200.00 | $363.79 | $4,229.39 |
| 4 | $4,229.39 | $1,200.00 | $541.30 | $5,970.68 |
| 5 | $5,970.68 | $1,200.00 | $738.95 | $7,909.63 |
| 6 | $7,909.63 | $1,200.00 | $959.04 | $10,068.67 |
| 7 | $10,068.67 | $1,200.00 | $1,204.11 | $12,472.78 |
| 8 | $12,472.78 | $1,200.00 | $1,477.00 | $15,149.78 |
| 9 | $15,149.78 | $1,200.00 | $1,780.87 | $18,130.64 |
| 10 | $18,130.64 | $1,200.00 | $2,119.22 | $21,449.87 |
Rate assumptions and sources
Lower / Middle / Higher estimates · reviewed 2026-09-12
- Lower estimate
4.28%
- FRED: 1-Year Treasury Constant Maturity Rate (DGS1)
Retrieved 2026-09-12 · observation 2026-09-10
Dated benchmark snapshot.
- Middle estimate
10.80%
- Damodaran historical returns, 1928-2025
Retrieved 2026-09-12
Median of 69 overlapping 30-year S&P 500 total-return windows through 2025.
- Higher estimate
12.04%
- Damodaran historical returns, 1928-2025
Retrieved 2026-09-12
75th percentile of 69 overlapping 30-year S&P 500 total-return windows through 2025.
- Inflation: 3.34%
- FRED: Consumer Price Index for All Urban Consumers (CPIAUCSL)
Compound annual change from August 2016 to August 2026; user input can replace it.
Excel FV syntax and signs
Excel uses FV(rate, nper, pmt, [pv], [type]). For monthly compounding, divide the annual nominal rate by 12 and multiply years by 12.
Excel follows cash-flow sign conventions: money paid into an investment is negative, so FV normally returns a negative future value unless you reverse the signs. This calculator accepts positive deposits and uses the equivalent magnitude.
Set type to 0 for end-of-period payments and 1 for beginning-of-period payments.