Present value \Pres"ent value\ or Present worth \Pres"ent worth\
(of money payable at a future date).
The principal which, drawing interest at a given rate, will
amount to the given sum at the date on which this is to be
paid; thus, interest being at 6%, the present value of $106
due one year hence is $100.
[Webster 1913 Suppl.]