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TERM OF THE DAY present value (PV) Estimated current value of a future amount to be received or paid out, discounted (see discounting) at an appropriate rate, usually at the cost of capitalrate (the current market interest rate). PV provides a common basis for comparing investment alternatives. Also called present worth. See also net present value, discounted cash flow, and future value. Learn more about this term Usage Example Using a simple "present-value/future-value" calculator, you can easily determine the average annual return prospects of the stock from the current market price to one of your projected future prices - preferably the one that is four to five years out.. Source: Determining Returns on Stocks