- The two main functions of this family are PVM and PmtM which are simply variations on the basic PV and Pmt functions in Excel. Whereas Excel"s functions are most suited to annual cashflows, these two functions allow for the fact that payments can occur during the year as determined by the variable PmtsPerYear. Refer to the CorrectionM function also for how the adjustment for non-annual cashflows is made.
- Next there are functions that deal with growing annuities and perpetuities, mostly based on the Gordon formula for an exponentially growing perpetuity. Principal amongst these functions are PVEGPerp and PVEGAnn, and for a simple summation without discounting, the somewhat simpler SumEGAnn.
All of these functions basically use the standard annuity formula in combination with the annual adjustment formula of CorrectionM, itself a derivation from the annuity formula.
- There are the growing perpetuity and annuity functions that make the adjustment for non-annual cashflows, these being PVEGPerpM and PVEGAnnM.
- There are also functions that deal with the present values of PERIODIC growing annuities, namely PVEGPerPerp and PVEGPerAnn. These deal with the situation where the cashflows, growing exponentially, occur at intervals other than annual.