Calculate the Future Value (FV) of Compound Interest in Excel - UDF Macro

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This UDF (user defined function) calculates the Future Value of Compound Interest in Excel. The mathematical formula that is behind this function is PV * (1 + r) ^ N. This is a great function to include in your workbook if you often work with financial calculations such as the future value of invested sums of money or other assets. This adds functionality to Microsoft Excel where it currently does not exist. This is a great financial UDF for Excel.

Where to install the macro:  Module

UDF to Calculate the Future Value (FV) of Compound Interest in Excel

Function FVCOMPOUNDINTEREST(PV As Double, r As Double, N As Double) As Double

FVCOMPOUNDINTEREST = PV * (1 + r) ^ N

End Function









How to Install the Macro
  1. Select and copy the text from within the grey box above.

  2. Open the Microsoft Excel file in which you would like the Macro to function.

  3. Press "Alt + F11" - This will open the Visual Basic Editor - Works for all Excel Versions.  Or For other ways to get there, Click Here.

  4. On the new window that opens up, go to the left side where the vertical pane is located. Locate your Excel file; it will be called VBAProject (YOUR FILE'S NAME HERE) and click this.

  5. If the Macro goes in a Module, Click Here, otherwise continue to Step 8.

  6. If the Macro goes in the Workbook or ThisWorkbook, Click Here, otherwise continue to Step 8.

  7. If the Macro goes in the Worksheet Code, Click Here, otherwise continue to Step 8.

  8. Close the Microsoft Visual Basic Editor window and save the Excel file. When you close the Visual Basic Editor window, the regular Excel window will not close.

  9. You are now ready to run the macro.


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