The Future value function is used to determine information such as how much money can be earned in an investment with a specific interest rate and over a specific period of time.
What is future value?
The future value is what money invested today will become over time at a rate of interest. It can be used to determine the future value of a lump sum or a specified amount.
It is to be noted that the FV function calculate the future value of a series of equal payments or an annuity.
Hence, the Future value function is used to determine information such as how much money can be earned in an investment with a specific interest rate and over a specific period of time.
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