Based on period interest rate, number of periods, and
instalment, this function calculates the present value of
the loan such that it would be paid off fully at the end of
the loan. This function is designed to be equivalent to the
Excel function PV. It calculates based on a fixed interest
rate, FV=0 and charging is at the end of the period.
Response is rounded to 2dp
Usage
PV(rate, nper, pmt)
Arguments
rate
The nominal interest rate per period (should
be positive)
nper
Number of periods
pmt
Instalment per period (should be negative)
Value
pv Present value i.e. loan advance (should be positive)
PV(0.1,12,-10) # 68.14 Taken from exceldf<-data.frame(rate=c(.1,.1),nper=c(12,24),pmt=c(-10,-15))
PV(df$rate,df$nper,df$pmt) # c(68.14,134.77) Taken from excel