Do I use the FV function in Excel correctly?

Posted by John on Super User See other posts from Super User or by John
Published on 2010-06-10T17:30:32Z Indexed on 2010/06/10 17:43 UTC
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My task: Create a table:

Calculate what the revenues of e-trading will be after five years at 15 percent interest rate if we now have 15 000 EUR. Use the FV function from the Financial Group in Excel.

My resolution: =FV( 15%; 5; 0; -15000).

My question: Is it correct?

I know the task lacks information whether the interest rate is per month or per year. I calculate it as 'per year'. My question is orientated more on the usage of the FV function. I, for example, do not understand why '-15000' and not '15000'. Also why the third parameter has to be 0? Maybe I do it wrong.

Please help me solve it! Thanks in advance.

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