PV (interest rate, nper, pmt, fv, type)

Rate is the interest rate of each period. For example, if you buy a car with an annual interest rate of 10% and repay the loan monthly, the monthly interest rate will be 10%/ 12 (that is, 0.83%). You can enter 10%/ 12, 0.83% or 0.0083 as the rate value in the formula.

Nper is the total investment (or loan) period, that is, the total payment period of investment (or loan). For example, a 4-year monthly car loan has 4* 12 (i.e. 48) repayment periods. You can enter 48 as the value of nper in the formula.

Pmt is the amount payable in each period, and its value remains unchanged throughout the annuity period. Usually pmt includes principal and interest, but does not include other fees and taxes. For example, a four-year car loan with an annual interest rate of 12% 10000 USD has a monthly repayment of $263.33 USD. You can enter -263.33 as the value of pmt in the formula. If pmt is omitted, the fv parameter must be included.

Fv is the future value or the expected cash balance after the last payment. If Fv is omitted, it is assumed that its value is zero (the future value of the loan is zero). For example, if you need to pay $50,000 after 18, then $50,000 is the future value. The monthly deposit amount can be determined according to the conservatively estimated interest rate. If fv is omitted, pmt parameter must be included.

Enter the number 0 or 1 to specify whether the payment time of each cycle is at the beginning or the end.