## Excel FVSCHEDULE Function

As you know, the FV function can easily calculate the future value of an investment with a constant interest rate in Excel. However, in some cases the interest rate is variable or adjustable. Here, you can apply the FVSCHEDULE function to calculate the future value of an invest with a series of compound interest rates easily.

#### Function syntax and arguments

FVSCHEDULE(principal, schedule)

(1) Principal: Required. It’s the present value of your investment.

(2) Schedule: Required. It’s the series of interest rates.
It can be a range of cells containing the series of inverse rates, such as C8:C12; or be an array of interest rates, such as {0.025, 0.03, 0.035, 0.04, 0.045}.

#### Return Value

Numerical value.

The FVSCHEDULE function will return the future value of a lump sum investment with a series variable or adjustable interest rates.

#### Usage notes

(1) The values in the schedule should be numbers, and other types of values will lead to #VALUE! error value.

(2) Blank cells in the schedule will be taken as 0.

#### Formula Example： Calculate future value with variable interest rates in Excel

For example, there is a 4-year financial product with a variable interest rates to counteract the inflation. This product requires the initial principle of \$1,000, and the interest rates are 4.00%, 4.50%, 5.00%, 5.50%. here, in this example you can apply the FVSCHEDULE function to easily figure out the future value of this financial product.

In this example, the principal is \$1,000 in Cell C4, and the schedule is in the Range C7:C10 as {0.04, 0.045, 0.05, 0.055}. Therefore, you can apply one of below formulas to figure out the future value at ease.

=FVSCHEDULE(C4,C7:C10)

=FVSCHEDULE(1000, {0.04,0.045,0.05,0.055})

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