ANS85 

The PRESENT-VALUE Function

General Format


*

Arguments

  1. Argument-1 and argument-2 must be of the class numeric.
  2. The value of argument-1 must be greater than -1.

Returned Values

  1. The returned value is an approximation of the summation of a series of calculations with each term in the following form:

    argument-2 / (1+argument-1) ** n

    There is one term for each occurrence of argument-2. The exponent, n, is incremented from one by one for each term in the series.

  2. Floating-point format is used for numeric non-integer results.