where pv (G4), rate (G5), and term (G6) are named ranges.

Present value (pv) is the named range G4 Rate is provided as as annual rate/periods, or rate/C5 Number of periods (nper) is given as periods * term, or C5*term There is no periodic payment, so we use zero (0)

By convention, the present value (pv) is input as a negative value, since the $1000 “leaves your wallet” and goes to the bank during the term. The named ranges automatically behave like absolute references, so there is no need to use dollar signs ($).

### Dave Bruns

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