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PV Function

## Class

Microsoft.VisualBasic.Financial

## Syntax

`PV(`rate`, `nper`, `pmt`[, `fv` [, `due`]])`
`rate `(required; Double)

The interest rate per period

`nper `(required; Integer)

The number of payment periods in the annuity

`pmt `(required; Double)

The payment made in each period

`fv `(optional; Double)

The future value of the loan or annuity

`due `(optional; Duedate)

Either `DueDate.BegOfPeriod` or `DueDate.EndOfPeriod`

## Return Value

A Double specifying the present value of an annuity

## Description

Calculates the present value of an annuity (either an investment or loan) based on a regular number of future payments of a fixed value and a fixed interest rate.

The present value is the current value of a future stream of equal cash flows discounted at some fixed interest rate.

## Rules at a Glance

• The time units used for the number of payment periods, the rate of interest, and the payment amount must be the same. In other words, if you state the payment period in months, you must also express the interest rate as a monthly rate and the amount paid per month.

• The rate per period is stated as a fraction of 100. For example, 10% is stated as .10. If you are calculating using monthly periods, you must also divide the rate per period by 12. For example, 10% per annum equates to a rate per period of .00833.

• The `fv` argument indicates the future value or cash balance after the last payment. The default is 0, since that reflects the value of a loan after the final payment.

• Payments made against a loan or added to the value ...

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