| What the name means | "Present Value of cashflows at specific Dates"
| | Syntax | PVT ( NPVDate, DisAER, Dates, Cashflows, [DayCountDisc], [PrdsDisc], [StartDCF], [FinishDCF], [PVTOptions] )
| | Description | Returns the PV (present value) of the cashflow represented by Dates and the corresponding Amounts
| | See Also | IRRTX (Dates, Cashflows, [IRRMinOpt], [IRRMaxOpt], [IRRAccOpt], [DayCountDisc], [PrdsDisc], [StartDCF], [FinishDCF], [PVTOptions], [Dates2], [Cashflows2], [Dates3], [Cashflows3], [Dates4], [Cashflows4]) | | PVA (NPVDate, DisAER, AnnualCashFlows, StartAnnDate, [DCountDisc], [StartDCF], [FinishDCF]) | | PVE (NPVDate, DisAER, EvenCashFlows, EvenTimeStart, EvenTimeInterval, [StartDCF], [FinishDCF]) | | PVM (AnnPmt, InterestAER, TermYrs, PmtsPerYear, [FVOpt])
| | See also Excel functions | XNPV (Direct Equivalent)
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Defaults and Values The variable(s) of this function have certain defaults and/or switch values associated with them. Click here to see more. | Type of Value | Value | Description | Detail | | Default(s)
| DayCountDisc | 5 | Decimal Year (ACTM/12): ActualMonths / 12
| | PrdsDisc | -4 | Quarterly in arrear, calendar quarters (1st April for Jan-March accrual, 1st Jul payment for April-June accrual, etc)
| | PVTOptions | 0 | No options set | | Switches
| DayCountDisc | 0 | 30/360 BMA (Bond Market Association, formerly the PSA)
| | | 1 | ACT/ACT (365 or 366)
| | | 2 | ACT/360: ActualDaysInPeriod / 360
| | | 3 | ACT/365: ActualDaysInPeriod / 365
| | | 4 | 30E/360: Also known as European 30/360. Standard bond literature definition.
| | | 5 | Decimal Year (ACTM/12): ActualMonths / 12
| | | 6 | ACT/ACT (in period)
| | | 7 | 30/360 BMA (Bond Market Association, formerly the PSA)
| | | 8 | ACT (Non Leap)/365: Same as ACT/365 but ignoring Feb 29
| | | 9 | 30/365: Standard bond literature definition (same as 30/360 but with 365 denominator)
| | | 10 | 30/360 ISDA
| | | 11 | 30/360 ISDA + Feb Adj
| | | 12 | ISDA + Feb EOM Adj
| | | 13 | Brazilian ACTBD/252
| | | -12 | Monthly in arrear, calendar months {1st Jan payment for Dec accrual, Feb 1 payment for Jan accrual etc}
| | | -4 | Quarterly in arrear, calendar quarters (1st April for Jan-March accrual, 1st Jul payment for April-June accrual, etc)
| | | -2 | 6 monthly in arrears (1st Jan payment for Jul-Dec accrual,1st July payment for Jan-June accrual )
| | | -1 | Annually In Arrear 1st Jan payment for Jul-Dec accrual
| | | 1 | Annually, 1st Jan
| | | 2 | 6 monthly (1st Jan, 1st July)
| | | 4 | Calendar quarters (1.01, 4.01, 7.01, 10.01)
| | | 12 | Calendar months {1.01, 1.02 etc}
| | | 14 | Continuous (could be thought of as daily)
| | PVTOptions | 1 | Cashflows assumed continuous. Dates are assumed to the start of respective timeperiods and the cashflow for that date is evenly spread across that timeperiod that finbishes at the next Date. |
FeaturesThis function has a few features that help explain its name. Click here to see more. | Feature | What it means | Explanation |
| PV.. | Present Value | Function returns a Net Present Value
| | ...T | Data is supplied at specific times | T, at the end of a function name, means data is supplied at specific times, but these times need not be regular. For example, PVT is a general NPV function where the cashflows need not be regular and need not be in chronological order. |
Range Handling and ConstraintsThis function has range inputs that are subject to range handling procedures to help reduce input errors and increase flexibility and speed. Click here to see more. The variables affected are as follows (in order): | Variable | Type of Handling | Explanation | | Dates Cashflows | Date Size | The first (date) range will be shortened to the first non-zero element, eliminating trailing zeros. If the second range is then longer then it will be shortened to the size of the date range. If the second range is shorter it will be padded by zeros. If both the date and the corresponding value are zero at any location in the range, the range is compacted and shortened. | | Dates Cashflows | Check Same Length | The length of these ranges (after any previous range handling adjustments and including any blanks or zeros) must be the same length or the function will report an error. | | Dates Cashflows | Date Size | The first (date) range will be shortened to the first non-zero element, eliminating trailing zeros. If the second range is then longer then it will be shortened to the size of the date range. If the second range is shorter it will be padded by zeros. If both the date and the corresponding value are zero at any location in the range, the range is compacted and shortened. |
Examples | - Preview of the PVT example.
- The above spreadsheet can be accessed from the Quick Reference (on the Business Functions menu), on the Examples menu, or in the Business Functions\Component Examples directory
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