Note: The other languages of the website are Google-translated. Back to English

Excel PV Function

doc workday.intl function 1

If you want to follow along with this tutorial, please download the example spreadsheet.
doc workday.intl function 1


The PV function returns the present value of a loan or an investment based on a constant interest rate. It is used to calculate the present value of future payments, alternatively, assuming periodic, constant payments and a constant interest rate.

Syntax and arguments

Formula syntax

PV(rate, nper, pmt[fv], [type])


  • Rate: Required, the interest rate per compounding period. For example, for a loan with a 12% annual interest rate and monthly payments, the interest rate per month would be 12%/12.
  • Nper: Required, the total number of payment periods in the annuity. For example, for a 10-year loan with monthly payments, the total number of payments periods would be 12*10.
  • Pmt: Required, the fixed payment per period, and cannot be changed during the life of the annuity. Generally, pmt includes the interest and principal, but excludes taxes. If pmt is omitted, the argument fv must be provided.
  • Fv: Optional, the future value at the end of all payment periods. If it is omitted, the function assumes it as 0.
  • Type: Optional, two types that indicate when the payments are due.

Type Due
0 (zero) or omitted At the end of the period
1 At the beginning of the period

Return Value

The PV function returns a negative value.


#VALUE! error value occurs when any one of arguments are non-numeric value.


1. Make sure the argument rate and nper are in the same unit. For instance, a 10-year loan with an annual interest rate of 12% and make monthly payments. Use 12%/12 for rate, 12*10 for nper. If a 10-year loan with an annual interest rate of 12% and make quarterly payments, use 12%/4 for rate, 4*10 for nper.

2. Cash outflows, such as deposits to a trust fund, are shown negative numbers. Cash inflows, such as dividends on investments, are shown as positive numbers.


Excel 2003 or later

Usage and Examples

Example1: when fv and type are omitted

In range B3:C7 that lists the details of a load without future value and type, to calculate its present value, please use the formula:


Press Enter key to get the result.
doc workday.intl function 1

Example2: when fv and type are not omitted

In range B3:C7 that lists the details of a load, to calculate its present value, please use the formula:


Press Enter key to get the result.
doc workday.intl function 1

Relative Functions:

  • Excel PRICEMAT Function
    The PRICEMAT function returns the price per $100 face value of a security that pays interests at maturity.

  • Excel ACCRINT Function
    The ACCRINT function returns the accrued interest on periodic interest-paying securities.

  • Excel ACCRINTM Function
    The ACCRINTM function returns the accrued interest for a security that pays interest at maturity.

  • Excel AMORDEGRC Function
    The AMORDEGRC function returns the linear depreciation of an asset for each accounting period by applying a depreciation coefficient based on the lifetime of the assets.

The Best Office Productivity Tools

Kutools for Excel - Helps You To Stand Out From Crowd

Would you like to complete your daily work quickly and perfectly? Kutools for Excel brings 300 powerful advanced features (Combine workbooks, sum by color, split cell contents, convert date, and so on...) and save 80% time for you.

  • Designed for 1500 work scenarios, helps you solve 80% Excel problems.
  • Reduce thousands of keyboard and mouse clicks every day, relieve your tired eyes and hands.
  • Become an Excel expert in 3 minutes. No longer need to remember any painful formulas and VBA codes.
  • 30-day unlimited free trial. 60-day money back guarantee. Free upgrade and support for 2 years.
Ribbon of Excel (with Kutools for Excel installed)

Office Tab - Enable Tabbed Reading and Editing in Microsoft Office (include Excel)

  • One second to switch between dozens of open documents!
  • Reduce hundreds of mouse clicks for you every day, say goodbye to mouse hand.
  • Increases your productivity by 50% when viewing and editing multiple documents.
  • Brings Efficient Tabs to Office (include Excel), Just Like Chrome, Firefox, And New Internet Explorer.
Screen Shot of Excel (with Office Tab installed)
Comments (0)
No ratings yet. Be the first to rate!
There are no comments posted here yet

Follow Us

Copyright © 2009 - | All rights reserved. Powered by ExtendOffice. | Sitemap
Microsoft and the Office logo are trademarks or registered trademarks of Microsoft Corporation in the United States and/or other countries.
Protected by Sectigo SSL