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, fv = 0)
Arguments
rate
The nominal interest rate per period (should be positive)
nper
Number of periods
pmt
Instalment per period (should be negative)
fv
Future value i.e. redemption amount
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