# The Excel FVSCHEDULE Function

Related Function:
FV Function

## Basic Description

The Excel FVSCHEDULE function calculates the Future Value of an investment with a variable interest rate.

The syntax of the function is:

FVSCHEDULE( principal, schedule )

Where the arguments are as follows:

 principal - The present value of the investment. schedule - An array of values, that provides the schedule of interest rates to be applied to the principal.If provided as a range of cells, these may contain numeric values or be empty (empty cells denote a zero interest rate).

## Excel Fvschedule Function Example

In cell B1 of the spreadsheet below, the Excel Fvschedule function is used to calculate the future value of an investment of \$10,000, over 5 years. The investment earns interest of 5% during the first two years and 3.5% during the 3rd, 4th and 5th years.

Formula:
AB
15.0%=FVSCHEDULE( 10000, A1:A5 )
25.0%
33.5%
43.5%
53.5%
Result:
AB
15.0%\$12,223.61
25.0%
33.5%
43.5%
53.5%

More details and examples of the Excel Fvschedule function are provided on the Microsoft Office website.

## Fvschedule Function Errors

If you get an error from the Excel Fvschedule Function, this is most likely to be one of the following:

Common Errors
 #VALUE! - Occurs if any of the supplied arguments are non-numeric.(although blank cells as a part of the schedule array are acceptable and are treated as the numeric value 0). #NAME? - Occurs when Excel does not recognise a function name. This may be because you have made a mistake when typing the Fvschedule function name into Excel.Alternatively, this could be because the Analysis ToolPak add-in is not enabled in your Excel. You will need to enable this if you want to use the Excel Fvschedule function.