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CONFIRMING PAGES

Format for Spreadsheet Functions on Excel

Relations for Discrete Cash Flows with End-of-Period Compounding

Present worth:
PV(i%,n,A,F)

for constant A series

NPV(i%,second_cell:last_cell) first_cell

for varying cash flow series

Type

Future worth:
FV(i%,n,A,P)

for constant A series

Single
Amount

Annual worth:
PMT(i%,n,P,F)

for single amounts with no A series

Number of periods (years):


NPER(i%,A,P,F)

for constant A series

Rate of return:
RATE(n,A,P,F)

for constant A series

IRR(first_cell:last_cell)

for varying cash flow series

F P
Compound
amount
P F
Present
worth

EFFECT (r%,m)

for nominal r, compounded m times per period

NOMINAL (i%,m)

for effective i, compounded m times per year

Depreciation:
SLN(P,S,n)

Straight line depreciation for each period

DDB(P,S,n,t,d)

Double declining balance depreciation for period t at rate d

DB(P,S,n,t)

Declining balance, rate determined by the function

VDB(P,S,n, start_period,
end_period, factor)

Switch from declining balance to straight line depreciation

Uniform
Series

MACRS depreciation for period t

Factor Notation
and Formula
(F P,i,n)

i)n

(1

for logical two-branch operations

Notation for Spreadsheet and Calculator Functions


Value Sought

Spreadsheet

Spreadsheet Function to Display a


Factors Numerical Value

Calculator

Factor Notation

Spreadsheet Function

Present worth

PV(i%,n,A,F)

PV(i,n,A,F)

(P/F,i,n)

PV(i,n,,1)

Future worth

FV(i%,n,A,P)

FV(i,n,A,P)

(F/P,i,n)

FV(i,n,,1)

Annual worth

PMT(i%,n,P,F)

PMT(i,n,P,F)

(A/F,i,n)

PMT(i,n,,1)

Rate of return

RATE(n,A,P,F)

i(n,A,P,F)

(F/A,i,n)

FV(i,n,1)

Number of years

NPER(i%,A,P,F)

n(i,A,P,F)

(P/A,i,n)

PV(i,n,1)

(A/P,i,n)

PMT(i,n,1)

(Note: The PV, FV, and PMT functions on spreadsheets and many calculators change the sense of the sign on the displayed
result. Precede the spreadsheet function with a minus sign to retain the same sign; change the calculators answer to retain the
same sign.)

ISBN:978-0-07-337635-6
Authors: Leland Blank, P.E., Anthony Tarquin, P.E.
Title: Basics of Engineering Economy

Inside Front Cover


Color: 1
Pages: 4,5

Arithmetic
Gradient

Geometric
Gradient

(P F,i,n)

i) n

(1

(1 i) n 1
i(1 i) n

A P
Capital
recovery

(A P,i,n)

i(1 i) n
(1 i) n 1

F A
Compound
amount

(F A,i,n)

A F
Sinking
fund

(A F,i,n)

PG G
Present
worth

(P G,i,n)

AG G
Uniform
series

Pg A1 and g
Present
worth

Sample Cash Flow


Diagram

P(F P,i,n)

F
0

F(P F,i,n)

A(P A,i,n)

P(A P,i,n)

n1 n

i) n
i

(1

i
i) n

(1

Logical IF function:
IF(logical_test,value_if_true,value_if_false)

Relation

(P A,i,n)

P A
Present
worth

Interest rate:

VDB(P,0,n,MAX(0,t 1.5),
MIN(n,t 0.5), factor)

Find/Given

in
i) n

1
i

(1

i (1
2

A(F A,i,n)
0

i) n

(1

(A G,i,n)

n
i) n

2 n1

AA

F(A F,i,n)

PG

G(P G,i,n)

AG

G(A G,i,n)

PG

AG AG AG AG AG
1

2
G

2G

n
(n1) G

(Gradient only)
A1 c 1
Pg
A1

n
1

1 g n
b d
1 i
i g
a

(Gradient and base)

n1

g
g

A (1+g)
A1 1

i
i

0
Pg

A1(1+g)

2 n1 n