pvfix (Financial Toolbox)

Present value with fixed periodic payments.

Syntax

p = pvfix(rate, nper, p, fv, due)
p = pvfix(rate, nper, p, fv)
p = pvfix(rate, nper, p)

Arguments

rate: Periodic interest rate, as a decimal fraction.

nper: Number of periods.

p: Periodic payment.

fv: Payment received other than p in the last period. Default = 0.

due: When payments are due or made: 0 = end of period (default),
or 1 = beginning of period.

Description

p = pvfix(rate, nper, p, fv, due)

returns the present value of a series of equal payments.

Example

$200 is paid monthly into a savings account earning 6%. The payments are made at the end of the month for five years. To find the present value of these payments:

pv = pvfix(0.06/12, 5*12, 200, 0, 0)

returns

pv =
      10345.11