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FV function as an algebraic expression
Can anyone tell me the underlying equation used by the FV function expressed as an algebraic equation? I am creating a flash tool that will do the calculation online, but need to know what the equation is so that it can be programmed in. The FV function uses the following syntax and arguments FV(rate,nper,pmt,pv,type) whe Rate is the interest rate per period. Nper is the total number of payment periods in an annuity. Pmt is the payment made each period; it cannot change over the life of the annuity. If pmt is omitted, you must include the pv argument. Pv is the present value, or the lump-sum amount that a series of future payments is worth right now. If pv is omitted, it is assumed to be 0 (zero), and you must include the pmt argument. Type is the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0. |
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