pv <- function(FV, r, n = 5) {
if(!is.atomic(FV)) {
stop('FV must be an atomic vector')
}
if(!is.numeric(FV) | !is.numeric(r) | !is.numeric(n)) {
stop('This function only works for numeric inputs!\n',
'You have provided objects of the following classes:\n',
'FV: ', class(FV), '\n',
'r: ', class(r), '\n',
'n: ', class(n))
}
if(r < 0 | r > .25) {
message('The input for r exceeds the normal\n',
'range for interest rates (0-25%)')
}
present_value <- FV / (1 + r)^n
round(present_value, 2)
}
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