@FV(payments;interest;term) calculates the future value of an investment, based on a series of equal payments, earning a periodic interest rate, over the number of payment periods in term.
payments and term are values.
interest is a value greater than -1.
The period used to calculate interest must be the same period used for term. For example, if you are calculating a monthly payment, enter the interest and term in monthly increments. Usually, this means you must divide the interest rate by 12 and multiply the number of years in term by 12.
You plan to deposit $2,000 each year for the next 20 years into an account to save for retirement. The account pays 7.5% interest, compounded annually; interest is paid on the last day of each year. You want to calculate the value of your account in 20 years. You make each year's contribution on the last day of the year.
@FV(2000;0.075;20) = $86,609.36, the value of your account at the end of 20 years.