Question
5 Use Excel to compute the present value of 10 equal payments of $15,000, with an...
5 Use Excel to compute the present value of 10 equal payments of $15,000, with an interest rate of 10 percent (Round your final answer to the nearest whole dollar amount.) 2
Answers
To calculate Present Value in Excel following formula should be used:-
=PV (rate, nper, pmt, [fv], [type])
Arguments
- rate - The interest rate per period.
- nper - The total number of payment periods.
- pmt - The payment made each period.
- fv - [optional] A cash balance you want to attain after the last payment is made. If omitted, assumed to be zero.
- type - [optional] When payments are due. 0 = end of period, 1 = beginning of period. Default is 0
In Our Case,
If,
A1=15000
A2=10%
A3=10
Then,
=PV(A2,A3,A1,0,0)
And our Answer will be 92168.51
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