Future value with fixed periodic payments
This example shows how to compute the future value of a series of equal payments using a savings account that has a starting balance of $1500. $200 is added at the end of each month for 10 years and the account pays 9% interest compounded monthly.
FutureVal = fvfix(0.09/12, 12*10, 200, 1500, 0)
FutureVal = 4.2380e+04
Rate— Interest-rate per period
Interest-rate per period, specified as a scalar numeric decimal.
NumPeriods— Number of payment periods
Number of payment periods, specified as a scalar numeric.
Payment— Payment per period
Payment per period, specified as a scalar numeric.
PresentVal— Present value
0(default) | scalar numeric
(Optional) Present value, specified as a scalar numeric.
Due— When payments are due
0(end of period) (default) | scalar integer with value of
(Optional) When payments are due, specified as a scalar integer with value
0 (end of period) or
FutureVal— Future value of series of equal payments
Future value of a series of equal payments, returned as a scalar numeric.
 Jan Mayle. Standard Securities Calculation Methods. Securities Industry Assn, Volumes I-II, 3rd edition, 1994