The PRESENT-VALUE function returns a value that approximates the present value of a series of future period-end amounts specified by argument-2 at a discount rate specified by argument-1.
The function type is numeric.
Format .------------. V | >>-FUNCTION PRESENT-VALUE--(--argument-1----argument-2-+--)----><
(argument-2 / (1 + argument-1))
(argument-21 / (1 + argument-1) + argument-22 / (1 + argument-1)**2)
FUNCTION SUM (argument-21 / (1 + argument-1) ... argument-2n / (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.