# WorksheetFunction.Pv (Excel)

Returns the present value of an investment. The present value is the total amount that a series of future payments is worth now. For example, when you borrow money, the loan amount is the present value to the lender.

The following table describes the values that can be used for Arg5.

Pv (Arg1, Arg2, ..., Arg5)

``````
Dim dblArg1 As Double: dblArg1 =
Dim dblArg2 As Double: dblArg2 =
Dim dblArg3 As Double: dblArg3 =
Dim dblPv As Double
dblPv = WorksheetFunction.Pv(Arg1:=dblArg1, Arg2:=dblArg2, Arg3:=dblArg3)
``````

## Arguments

Arg1, Arg2, ..., Arg5

Arg1 (Double) - Rate - the interest rate per period. For example, if you obtain an automobile loan at a 10 percent annual interest rate and make monthly payments, your interest rate per month is 10%/12, or 0.83%. You would enter 10%/12, or 0.83%, or 0.0083, into the formula as the rate.

Arg2 (Double) - Nper - the total number of payment periods in an annuity. For example, if you get a four-year car loan and make monthly payments, your loan has 4*12 (or 48) periods. You would enter 48 into the formula for nper.

Arg3 (Double) - Pmt - the payment made each period and cannot change over the life of the annuity. Typically, pmt includes principal and interest but no other fees or taxes. For example, the monthly payments on a \$10,000, four-year car loan at 12 percent are \$263.33. You would enter -263.33 into the formula as the pmt. If pmt is omitted, you must include the fv argument.

Arg4 - Fv - the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0). For example, if you want to save \$50,000 to pay for a special project in 18 years, \$50,000 is the future value. You could then make a conservative guess at an interest rate and determine how much you must save each month. If fv is omitted, you must include the pmt argument

Arg5 - Type - the number 0 or 1; indicates when payments are due