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

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