Evaluates the present value for a schedule of cash flows. It is not necessary that the cash flows be periodic.

rate—Interest rate.

values—One-dimensional array of cash flows.

dates—One-dimensional array of dates cash flows are made. For a more detailed discussion on dates see Chapter 8, Working with Date/Time Data in the PV‑WAVE User’s Guide.

result—The present value for a schedule of cash flows that is not necessarily periodic. If no result can be computed, NaN is returned.

Double—If present and nonzero, double precision is used.

Function PRES_VAL_SCHD computes the present value for a schedule of cash flows that is not necessarily periodic.

It can be found by solving the following with count = N_ELEMENTS (values):

In the equation above, di represents the ith payment date, d1 represents the 1st payment date, and valueI represents the ith cash flow.

In this example, PRES_VAL_SCHD computes the present value of 3 payments, $1,000, $2,000 and $1,000, with an interest rate of 5% made on January 3, 1997, January 3, 1999 and January 3, 2000.

rate = 0.05

values = [1000.0, 2000.0, 1000.0]

dates = VAR_TO_DT([1997, 1999, 2000], [1, 1, 1], [3, 3, 3])

PRINT, PRES_VAL_SCHD(rate, values, dates)

; PV-WAVE prints: 3677.90