---
url: /cube-functions/pv.md
description: >-
  Calculates the present value of an investment based on constant payments and a
  constant interest rate.
---

# PV

Calculates the present value of an investment based on constant payments and a constant interest rate.

```js
PV(rate, nper, pmt, fv, type)
```

#### Parameters

* `rate` - The interest rate per period.
* `nper` - The total number of payments.
* `pmt` - The payment made each period; payments are assumed to be made at the end of each period.
* `fv` - The future value, or the amount of money that an investment will be worth after all payments have been made. If fv is omitted, it is assumed to be 0. `(optional)`
* `type` - The number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0. `(optional)`

#### Examples

```js
PV(0.05 /12, 120, -100, 1000)
```

**Result:** `8820.97`

**Note:** Calculates the present value of an investment with a series of monthly payments of $1,000, for a total of 10 years (120 months), with a 5% annual interest rate compounded monthly.