PV not working the same as Excel

[leospalteholz]

Gives totally different values compared to other PV calculations. Not sure if this is different version of PV but it doesn't seem correct.
For reference, I use this function which behaves the same as Excel's version:

PV(rate, numOfPayments, pmt) {
		return pmt / rate * (1 - Math.pow(1 + rate, -numOfPayments));
	}