While Excel and DAX have native functions to calculate the future value of a payment series, Power Query lacks it still. So it’s time to create our own function for the Future Value (FV) for Power Query:
Excel’s function for the Present Value (FV) for Power Query
Excel’s FV function returns the future value of an investment based on a constant interest rate. Like for the PV-function, I could use the calculation logic from Greg Deckler:
https://gist.github.com/ImkeF/9c10f010ea26b6f13609669282808b08
Function Arguments
To keep it really convenient, the arguments for this function are identical with the Excel ones:
- Rate Required. The interest rate per period.
- Nper Required. The total number of payment periods in an annuity.
- Pmt Required. The payment made each period; it cannot change over the life of the annuity. Typically, pmt contains principal and interest but no other fees or taxes. If pmt is omitted, you must include the pv argument.
- Pv Optional. The present value, or the lump-sum amount that a series of future payments is worth right now. If pv is omitted, it is assumed to be 0 (zero), and you must include the pmt argument.
- Type Optional. The number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.
| Set type equal to | If payments are due |
|---|---|
| 0 | At the end of the period |
| 1 | At the beginning of the period |
Please check out the following video to see how to apply this function in your solution:
Enjoy and stay queryious 😉
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The choice to keep the arguments identical to Excel is the detail that landed for me. You’re not just recreating a missing function in Power Query; you’re removing friction at the exact point people usually hesitate.