Description
Calculate the present value of an annuity.
Signature
Annuity_PV('rate', 'nper', 'pmt', ['fv'], ['type'])
Parameters
| Name | Required | Type | Description |
|---|---|---|---|
| rate | Yes | double | The interest rate per period. |
| nper | Yes | double | The total number of payment periods in an annuity. |
| pmt | Yes | double | The payment made each period and cannot change over the life of the annuity. |
| fv | No | double | The future value, or a cash balance you want to attain after the last payment is made. |
| type | No | int | The number 0 (the end of the period) or 1 (the start of the period), indicates when payments are due. |
Example 1
Annuity_PV(0.08/12, 60, -500 ) Returns 24,659.21