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7.1.35 PRESENT-VALUE



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.


    ___ Format _____________________________________________________________ 
   |                                                                        |
   |                                          <____________                 |
   | >>__FUNCTION PRESENT-VALUE__(argument-1____argument-2_|__)__________>< |
   |                                                                        |
   |________________________________________________________________________|
argument-1
Must be class numeric. Must be greater than -1.

argument-2
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 one by one for each term in the series.

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