FV Of Retirement Account

My son recently started a 457 and he would like to track his account by his quarterly statements but also set goals as to what his future balance should be.
Example at the end of 2019 his balance was X, with deposits his goal would be to make Y percent (7%). What would that be for 2020, the 2021 and so on.
I've tried ending balance+deposits*percent and my best attempt at FV function. Just not sure what is the best method to closely estimate.
I'm no Excel wiz and after a few weeks of searching and attempts to make something work, I come to you, the wiz kids.
Attached is what I have.

there are no wiz kids here. we are all old. I think.

there's no need to use the FV() function. the purpose of that, really, is to do more complex analysis than just simple interest calculating. like annuities and IRA accounts. but it can be used for the basics:

https://support.microsoft.com/en-us/...8-4fe4bb1b71b3

there's much more to the plan though, obviously:

https://en.wikipedia.org/wiki/457_plan

regarding to what he makes in any give timeframe or period, that depends on a lot of factors, doesn't it? FV() is good for that purpose. but if you want to set a goal and then want to know what percent of interest that is needed to get from ''A'' to ''B'', ''A'' being the beg. balance and ''B'' being the desired balance after ''X'' number of months, then it is very simple:

example

2019 end bal = $1,000
2020 interest return desired over 12 months = 7%
2020 end bal needed to meet percentage goal = $1,070
simple calculation to determine goal = $1,000 * 1.07

now, if the interest is compounded and other things, it gets more complicated. but your post did not indicate any complexities. so, per the article:

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there's an interest rate (rate), a period count (nper), a universal payment for every period (pmt), and the present value of the money, which is his beg. bal ([pv]).

Originally Posted by alansidman

He may want to also look at this thread

https://www.excelforum.com/tips-and-...worksheet.html

that's great. nice. I had no idea it existed.

Thanks

I'll read through the links everyone has provided.