pvfix

Present value with fixed periodic payments

Syntax

PresentVal = pvfix(Rate,NumPeriods,Payment,ExtraPayment,Due)

Arguments

rate

Periodic interest rate, as a decimal fraction.

NumPeriods

Number of periods.

Payment

Periodic payment.

ExtraPayment

(Optional) Payment received other than Payment in the last period. Default = 0.

Due

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

Description

PresentVal = pvfix(Rate,NumPeriods,Payment,ExtraPayment,Due) returns the present value of a series of equal payments.

Examples

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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

Introduced before R2006a