help pvfix

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Title

       pvfix --    Returns the present value of a series of equal payments
                    (cash flows)


Syntax

        pvfix , cf(#) nper(#) frequency(timeunit) rate(#) [ options ]

    options                   Description
    -------------------------------------------------------------------------
    Main
      cf(#)                   Value of the constant cash flows (positive
                                number)
      nper(#)                 Number of payment periods (positive integer)
      frequency(timeunit)     Time unit of payments (m, q, h, y)
      rate(#)                 Nominal annual interest rate (in decimal form)

    Options
      extrapayment            Payment received other than cf(#) in the last
                                period (positive number)
      due(#)                  When payments are due or made: 0 = end of
                                period (default), or 1 = beginning of period
      result(mymatrix)        Set the discounted cash flows' schedule matrix
                                name
    -------------------------------------------------------------------------

        timeunit       definition
        ---------------------------------------------------------------------
        m               monthly payments
        q               quarterly payments
        h               halfyearly payments
        y               yearly payments
        ---------------------------------------------------------------------


Description

    pvfix Returns the present value of a series of equal payments (based on a
    compounded constant interest rate). pvfix generates a three column matrix
    (rows = nper) containing the entire schedule of discounted cash flows
    distinguishing between: period number, discount factor and cash flows'
    present value.


        +---------+
    ----+ Options +----------------------------------------------------------

    cf(#) Value of the constant cash flows.

    nper(#) Number of payment periods.  For example, if you want the present
        value of five-year monthly cash flows, it will have 5*12 = 60
        periods. The formula nper(60).

    frequency(timeunit) Time unit of payments (m, q, h, y).  Used to convert
        the annual interest rate into a periodic rate.

    rate(#) Nominal annual interest rate (in decimal form). i.e. an annual
        5.24% interest rate should be written 0.0524.

    extrapayment Payment received other than cf(#) in the last period,
        default is 0.

    due(#) When payments are due or made: 0 = end of period (default), or 1 =
        beginning of period.

    result(mymatrix) Set the discounted cash flows' schedule matrix name
        saved in results, default is matpvcf.


Examples

    . pvfix, cf(10000) nper(60) frequency(m) rate(.1125) due(1)
    . pvfix, cf(1500) nper(5) frequency(y) rate(.125) res(cf1)
    . mat list r(cf1)


Saved results

    pvfix saves the following in r():

    Scalars   
      r(cf)          cash flow value
      r(nper)        total number of payment periods
      r(freq)        number of payment within a year
      r(iy)          annual interest rate
      r(due)         due value
      r(extrap)      extra payment value
      r(PV)          Present value of constant cash flows

    Matrices  
      r(matpvcf)     schedule of discounted cash flows


Author

Maximo Sangiacomo
Email:  msangia@hotmail.com