Excel Function - PV

Used to calculate the Present Value of a future cashflow.

```excel
=PV(rate, nper, npmt, [fv])

Where:

• rate: the discount rate $r$
• nper: number of periods $n$
• npmt: the repeated payments or an annuity that gets paid each time
• fv: the future value occurring once at the end of the period
• type: Indicates when payments are due. Use 0 for payments due at the end of the period (default) and 1 for payments due at the beginning of the period.