Functions > Finance > Present Value
Present Value
pv(rate, nper, pmt, [[fv], [type]])—Returns the present value of an investment or loan based on periodic, constant payments over a given number of compounding periods nper using a fixed interest rate and a specified payment pmt.
npv(rate, v)—Returns the net present value of an investment given a discount rate and a series of v cash flows occurring at regular intervals.
 • npv assumes that the payment is made at the end of the period. • The npv investment begins one period before the date of the first cash flow and ends with the last cash flow in the list.
Arguments
rate is the real, positive, scalar fixed interest rate per period. Typically, 0 ≤ rate < 1.
nper is the positive integer number of compounding periods.
pmt is the real payment made each period. It usually includes principal and interest but no other taxes and fees.
fv (optional) is the future value: a cash balance you want to attain after the last payment is made. If omitted, fv = 0.
type (optional) is 0 for a payment made at the end of the period or 1 for the beginning. If omitted, type = 0.
v is a vector of cash flows assigned at regular intervals. Payments are entered as negative numbers and income as positive numbers.