The PRESENT-VALUE function returns a value that approximates the present value of a series of future period-end amounts specified by argument-2 at a discount rate specified by argument-1.
The function type is numeric.
- Must be class numeric. Must be greater than -1.
- Must be class numeric.
The returned value is an approximation of the summation of a series of calculations with each term in the following form:
argument-2 / (1 + argument-1) ** n
There is one term for each occurrence of argument-2. The exponent n is incremented from 1 by 1 for each term in the series.