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PV.

Returns the present value of a series of future cash flows.

SyntaxArgumentsExampleInteractive SandboxGeneratorCompatibilityFAQRelatedCheat Sheet
Category: Financial
ExcelExcel 365Excel 2021Excel 2019Google Sheets

How it works.

PV calculates the current value that a future stream of constant payments is worth today, discounted at a given interest rate.

Formula syntax.

Standard Excel Notation
=PV(rate, nper, pmt, [fv], [type])
Tip:Arguments wrapped in square brackets [like_this] are optional; all other arguments are required.

Formula arguments.

Every parameter accepted by the PV function is detailed below.

rateRequired

Interest rate per period.

Example value: 0.06/12
nperRequired

Total number of payment periods.

Example value: 36
pmtRequired

Payment made each period (negative number).

Example value: -500

Simple example.

Step-by-Step Scenario

Auto Loan - Maximum Borrowing Power

Calculate total loan amount affordable at $500/month over 36 months at 6% interest.

Annual RateMonthsMax Monthly PaymentLoan Present Value
0.0636500—
Applied Formula
=PV(A2/12, B2, -C2)
Expected Result:16428.18

Evaluates PV over the sample table cells, placing the verified output in cell D2.

Formula generator.

Full Generator Wizard

Customize the argument fields below to generate a tailored PV formula ready to paste directly into your worksheet.

Generated FormulaReady to copy
=PV()

Expected result behavior.

Returns number 16428.18 based on sample evaluation criteria and active cell references.

Sample Output:16428.18
Output Type:Numeric (Double/Integer)

Best Practices

  • Use PV to find the maximum loan amount you can afford for a target monthly payment.

Common Mistakes

  • Remember that outgoing cash payments must be negative.
Compatibility Database

Platform & version compatibility.

Verified platform compatibility matrix based on actual spreadsheet calculation engine specifications.

Excel✓
Supported
Excel 365✓
Supported
Excel 2021✓
Supported
Excel 2019✓
Supported
Google Sheets✓
Supported
Microsoft Excel History & Version Availability

Core standard function supported across all modern and legacy Microsoft Excel versions (365, 2021, 2019, 2016, 2013, 2010), as well as Excel for the Web and Mac.

Google Sheets Compatibility Notes

100% compatible with Google Sheets. Uses identical argument order, data types, and standard calculation logic.

Frequently asked questions.

Technical Q&A
Can I use PV across different worksheets in Excel?↓

Yes. You can reference cells located on other sheets by including the sheet name followed by an exclamation mark, for example: =PV(Sheet2!A2:A10). If the sheet name contains spaces, enclose it in single quotes: ='Q1 Report'!A2:A10.

What is the most common reason for errors in PV?↓

Remember that outgoing cash payments must be negative.

Does PV work identically in Google Sheets?↓

Yes, PV is supported in both Microsoft Excel and Google Sheets with standard evaluation behavior.