Present Value

What is the formula to find the PV of a future payment.

I know my payment is going to be $214.29 at 1/1/05. What is the present
value of this payment on 1/1/04 if the interest rate is 10%. Does anyone
have a formula for this?

Thank You.

DME wrote:
> What is the formula to find the PV of a future payment.
>
> I know my payment is going to be $214.29 at 1/1/05. What is the present
> value of this payment on 1/1/04 if the interest rate is 10%. Does anyone
> have a formula for this?
>
> Thank You.
>
Click on the function button on the tool bar,
then select financial, then look for the PV function.
It will step you through setting up the formula.

gls858