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PV

Syntax:

PV ( rate , nper , pmt [ , [ fv ] [ , [ type ] ] ] )

Description: Computes the present value of an investment. (The present value is the total amount that a series of future payments is worth now.)

Mathematical Formula:

If rate is not 0, then:

If rate is 0, then:

(pmt * nper) + pv + fv = 0

Arguments:

Name

Type

Description

rate

number

The interest rate per period.

nper

number

The total number of payment in an annuity.

pmt

number

The payment made each period and cannot change over the life of the annuity. If is omitted, fv shall be provided. [Note: Typically, pmt includes principal and interest but no other fees or taxes. end note]

fv

number

The future value, or a cash balance to be attained after the last payment is made. If omitted, pmt shall be provided.

type

number

The timing of the payment, truncated to integer, as follows:

Value

Timing

0

Payment at the end of the period

1

Payment at the beginning of the period

 

 

Return Type and Value: number – The present value of an investment.

However, if type is any number other than 0 or 1, #NUM! is returned.

[Example:

PV(0.08/12,12*20,500,,0) results in -59,777.15

end example]