I have a case where in I need 17,00,000 (end of 1st year) increased by 6% every year for 24 more years (so total 25 years). When I discount it using **NPV** with 10% rate, I get ***2,56,64,794***. However for this I have to use many cells for 17,00,000 compounding for 24 years and then discount with NPV for 25 years.

However I need to get the calculation done with **PV**.
So for this I get real rate of return i.e.`(10%-6%)/(1+6%)`
However when I use the PV formula with this rate and PMT as 17,00,000 (end of period payments), I get the value ***2,72,04,681***

Why do I get 2 different values? What am I missing here?

I need to get PV (as i need to lessen the calculations required) same as the NPV but cant wrap my head around the difference in results.

[![Calculations](https://i.stack.imgur.com/gXDzQ.png)](https://i.stack.imgur.com/gXDzQ.png)
[![Formulas used](https://i.stack.imgur.com/NfSTp.png)](https://i.stack.imgur.com/NfSTp.png)