Possible error in FV(), Future Value

[cleetus]

Hi folks;

When I do =FV(0.055/4,4,3000,1), in PlanMaker, I get the wrong answer of -$12,250.83.1 is the the type.

The same calculation in LibreOffice gives the correct result: -$12,418.21.

The type 0 computes the interest at the end of the period. The type 1 computes the interest at the beginning of the period.

Type 0; P + P*(1+0.055/4) + P*(1+0.055/4)^2 + P*(1+0.055/4)^3 = -$12,249.78

Type 1: P*(1+0.055/4) + P*(1+0.055/4)^2 + P*(1+0.055/4)^3 + P*(1+0.055/4)^4 = -$12,418.21

[martin-k]

Excel gives -12,250.83, like PlanMaker.

[cleetus]

I found the answer. You have to use =FV(0.055/4,4,3000,,1) which gives $12,418.21. Notice the second comma before 1. Also you can use =FV(0.055/4,4,3000,0,1).

[Volker Neurath]

Excel gives -12,250.83, like PlanMaker.

I did this calculation in Gnumeric too, just for interest. There it is even more weired:

when I type the formula like it is written in the original post =fv(0,055/4;4;3000;1) , I get 12.251 €
So I gave the expresson a value for the "type" parameter.

With type 0 I get: 12.250,83 €
With type 1 I get: 12.419,27 €