## 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 0In 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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