The formula
Deposits at month endExcelGoogle Sheets
=FV(B2/12,B3*12,-B4,-B1)In D1 → $176,471.69
Deposits at month startExcelGoogle Sheets
=FV(B2/12,B3*12,-B4,-B1,1)In D2 → $177,383.31
Total contributedExcelGoogle Sheets
=B1+B4*B3*12In D3 → $77,000.00
✓ Tested. All 3 Excel results in this example were recalculated in LibreOffice Calc 25.2 and matched the values shown.
Worked example
Paste the data below into a blank sheet starting at cell A1 (or download the cheat sheet, where every example is set up). Highlighted cells hold the formulas and show the expected results.
| A | B | C | D | |
|---|---|---|---|---|
| 1 | Starting balance | 5000 | $176,471.69 | |
| 2 | Annual return | 7% | $177,383.31 | |
| 3 | Years | 20 | $77,000.00 | |
| 4 | Monthly deposit | 300 |
How it works
- B2/12
- Monthly return.
- B3*12
- Number of months.
- -B4
- Monthly deposit, negative because it's money you pay in.
- -B1
- Starting balance, also negative.
- 1
- Optional type: 1 = deposit at the start of each month.
Common errors and fixes
Negative result?
Deposits and balance must be negative to get a positive FV.
Result too high?
Annual rate not divided by 12.
Does this work in Google Sheets?
Yes. The formulas on this page work the same way in Google Sheets.