Update fv files (#162)
* Files updated for FV function documentation. * Further FV changes
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lang: en-US
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---
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# FV
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# FV function
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## Overview
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FV (<u>F</u>uture <u>V</u>alue) is a function of the Financial category that can be used to predict the future value of an investment or asset based on its present value.
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::: warning
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🚧 This function is implemented but currently lacks detailed documentation. For guidance, you may refer to the equivalent functionality in [Microsoft Excel documentation](https://support.microsoft.com/en-us/office/excel-functions-by-category-5f91f4e9-7b42-46d2-9bd1-63f26a86c0eb).
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:::
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FV can be used to calculate future value over a specified number of compounding periods. A fixed interest rate or yield is assumed over all periods, and a fixed payment or deposit can be applied at the start or end of every period.
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If your interest rate varies between periods, use the [FVSCHEDULE](./FVSCHEDULE) function instead of FV.
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## Usage
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### Syntax
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**FV(rate, nper, pmt, pv, type)**
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### Argument descriptions
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* *rate*. The fixed percentage interest rate or yield per period.
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* *nper*. The number of compounding periods to be taken into account. While this will often be an integer, non-integer values are accepted and processed.
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* *pmt*. The fixed amount paid or deposited each compounding period.
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* *pv* (optional). The present value or starting amount of the asset (default 0).
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* *type* (optional). A logical value indicating whether the payment due dates are at the end (0) of the compounding periods or at the beginning (any non-zero value). The default is 0 when omitted.
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### Additional guidance
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* Make sure that the *rate* argument specifies the interest rate or yield applicable to the compounding period, based on the value chosen for *nper*.
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* The *pmt* and *pv* arguments should be expressed in the same currency unit. The value returned is expressed in the same currency unit.
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* To ensure a worthwhile result, one of the *pmt* and *pv* arguments should be non-zero.
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* The setting of the *type* argument only affects the calculation for non-zero values of the *pmt* argument.
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<!--@include: ../markdown-snippets/error-type-details.md-->
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## Details
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* If *rate* = 0, FV solves the equation:
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$$
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FV = -pv - (pmt \times nper)
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$$
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* If *rate* <> 0 and *type* = 0, FV solves the equation:
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$$ FV = -pv \times (1 + rate)^{nper} - \dfrac{pmt\times\big({(1+rate)^{nper}-1}\big)}{rate}
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$$
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* If *rate* <> 0 and *type* <> 0, FV solves the equation:
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$$ FV = -pv \times (1 + rate)^{nper} - \dfrac{pmt\times\big({(1+rate)^{nper}-1}\big) \times(1+rate)}{rate}
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$$
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## Examples
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[See this example in IronCalc](https://app.ironcalc.com/?example=fv).
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## Links
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* For more information about the concept of "future value" in finance, visit Wikipedia's [Future value](https://en.wikipedia.org/wiki/Future_value) page.
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* See also IronCalc's [NPER](./NPER), [PMT](./PMT), [PV](./PV) and [RATE](./RATE) functions.
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* Visit Microsoft Excel's [FV function](https://support.microsoft.com/en-gb/office/fv-function-2eef9f44-a084-4c61-bdd8-4fe4bb1b71b3) page.
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* Both [Google Sheets](https://support.google.com/docs/answer/3093224) and [LibreOffice Calc](https://wiki.documentfoundation.org/Documentation/Calc_Functions/FV) provide versions of the FV function.
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* For information about the different types of errors that you may encounter when using IronCalc functions, visit our [Error Types](/features/error-types) page.
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