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If youve got Microsoft Excel (or just about every other popular spreadsheet software) running on your computer, you can use its FV function to predict the future value of one's IRA account. 

The FV function determines the future price of an investment given its interest rate, 

the number of obligations, the cost, the present value of the expense, and, 

optionally, the type-of-annuity switch. (More concerning the type-of-annuity switch a little later.) 

The event uses the following syntax: 

=FV( rate,nper,pmt,pv,type) 

This little fairly complex, I offer you. But suppose you want to assess the near future price of an IRA bill thats already got $10,000 in it and to which youre adding $200-a-month. Further suppose that you wish to know the bill balanceits potential valuein 25 years and that you expect you'll make ten percent annual interest. 

To calculate the long run price of the IRA account in this case using the FV purpose, you enter the following into a worksheet cell: 

=FV( 10%/12,25*12,-200,-10000,0) 

The value is returned by the function 385936.13roughly $386,000 pounds. 

A handful of things to note: To change the 10% annual interest to a interest rate, the method divides the annual interest rate by 12. Similarly, to convert the 25-year term to a in months, the formula multiplies 25 by 12. 

Also, notice that the monthly payment and initial existing prices show as negative quantities because cash outflows are represented by them. And the function returns the long run value amount as a positive value because it shows a cash inflow the individual ultimately receives. 

That 0 by the end of the big event is the type-of-annuity switch. If the type-of-annuity switch was set by you to 1, Excel considers payments occur at the start of the time (month in cases like this), following a annuity due convention. If you set the annuity change to 0 or you omit the argument, Excel thinks payments occur at the end of the period following a normal annuity conference. [http://www.resource4retirement.com/lifeinsuranceannuities life insurance annuities]