# The Excel FVSCHEDULE Function

Related Function:
FV Function

## Function 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%

For further details and examples of the Excel Fvschedule function, see the Microsoft Office website.

## Fvschedule Function Error

If you get an error from the Excel Fvschedule Function, this is likely to be the #VALUE! error:

Common Error
 #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).