# The Local Authorities (Borrowing) Regulations 1990, Paragraph 6


For the purposes of paragraph 5 above, the present value as at the relevant date—
(a) of an amount to be paid on or before that date, is that amount; and
(b) of an amount to be paid at a later date, is an amount found by the following formula—
A(1+ r100 )t where
“A” is the amount of the payment to be made;
“r” is the rate per annum expressed as a percentage; and
“t” is the period beginning with the relevant date and ending with the date of payment of the amount expressed in years.

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Source: https://www.legislation.gov.uk/uksi/1990/767/schedule/paragraph/6 (the official version)
Page: https://openlegislation.uk/local-authorities-borrowing-regulations-1990/schedule/paragraph-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.