Present value with fixed periodic payments
PresentVal = pvfix(Rate, NumPeriods, Payment, ExtraPayment, Due)
Periodic interest rate, as a decimal fraction.
Number of periods.
(Optional) Payment received other than Payment in the last period. Default = 0.
(Optional) When payments are due or made: 0 = end of period (default), or 1 = beginning of period.
PresentVal = pvfix(Rate, NumPeriods, Payment, ExtraPayment, Due) returns the present value of a series of equal payments.
This example shows how to return the present value of a series of equal payments, where $200 is paid monthly into a savings account earning 6%. The payments are made at the end of the month for five years.
PresentVal = pvfix(0.06/12, 5*12, 200, 0, 0)
PresentVal = 1.0345e+04