PV
Returns the present value (PV) of a series of equal payments made at regular intervals (periods), assuming a fixed interestRate per interval.
payment - payment amount to be made per period. Type a negative number for money you pay and a positive number for money you receive.
interestRate - interest rate per period.
periods - number of periods (intervals between payments).
Your cousin borrowed $2,000 from you, offering to pay you back $500 a year for five years, for a total of $2,500 at the end of five years. If inflation was 5 percent annually, with the following entry you could find out what those payments are worth with the PV function.
PV(500;.05;5) returns 2164.73833531....
If you want the return value to return two decimal places, enclose the formula with the correct Round function: Round(Current Formula;2).