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PVIFA Calculator (Present Value Interest Factor of an Annuity)

PVIFA = [1 − (1+r)⁻ⁿ] / r — the number a payment is multiplied by to get a present value. Adjustable precision from 2 to 15 decimals, the ordinary and due factors together, an annuity-table row you can read across, and an explanation of why asking for more than 17 significant digits is meaningless in binary floating point.

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Present value of annuity calculatorCompute the present value of a series of equal future payments.Present Value of an Annuity Due CalculatorPayments land at the start of each period, so every one of them is discounted one period less: PV(due) = PV(ordinary) × (1 + r). Both figures are shown side by side with the gap in cash, plus the period-by-period discount table that explains where the extra value comes from.Present Value of a Growing Annuity CalculatorPV = C₁/(r−g) · [1 − ((1+g)/(1+r))ⁿ] for payments that grow at a fixed rate. The r = g case is a removable singularity, not an error: the limit is n·C₁/(1+r), and it is computed exactly instead of dividing by zero. Ordinary and due timings, growing perpetuity, and the full payment table.Present value calculatorFind today's value of a future sum of money at a given discount rate.Discount factor calculatorThe discount factor 1/(1+r)ⁿ turns a future amount into today's money. Enter the rate, the number of periods and optionally a future value to get the factor and the present value.Pip Value Calculator (Forex)Value of one pip for a forex trade, in the quote currency and converted to your account currency.Perpetuity value calculatorCompute the present value of a perpetuity — a stream of payments that never ends.Annuity Payout CalculatorSolves any of the three questions a pot of capital raises: how long it lasts at a given withdrawal, how much you can withdraw for a chosen number of years, or how much principal a target income needs. Prints the full depletion schedule and restates every figure in today's money at your inflation rate.

PVIFA Calculator (Present Value Interest Factor of an Annuity) works straight from this page — free, instant, nothing to install. You will find it under Investing & markets, with Present value of annuity calculator and Present Value of an Annuity Due Calculator for the neighbouring cases.

How to use it

  1. Open the tool — no signup or install needed.
  2. Enter your input or adjust the available options.
  3. Get your result instantly, then copy or download it.

Frequently asked questions

What does PVIFA Calculator (Present Value Interest Factor of an Annuity) do?

PVIFA = [1 − (1+r)⁻ⁿ] / r — the number a payment is multiplied by to get a present value. Adjustable precision from 2 to 15 decimals, the ordinary and due factors together, an annuity-table row you can read across, and an explanation of why asking for more than 17 significant digits is meaningless in binary floating point.

When would I actually use this?

Comparing two investments that pay at different times, deciding whether a project clears its cost of capital, and sanity-checking a valuation someone else produced.

What is the most common mistake?

Trusting a valuation without asking what share of it comes from the terminal value. Past 70%, the answer is an assumption about the distant future dressed up as a calculation.

How is PVIFA Calculator (Present Value Interest Factor of an Annuity) different from Present value of annuity calculator?

They sit next to each other but answer different questions: Present value of annuity calculator is the one to open when you need it to compute the present value of a series of equal future payments. Pick whichever matches what you're starting from — both are free.

Is there a tool for the next step?

Present Value of an Annuity Due Calculator is the closest one after this: Payments land at the start of each period, so every one of them is discounted one period less: PV(due) = PV(ordinary) × (1 + r). Both figures are shown side by side with the gap in cash, plus the period-by-period discount table that explains where the extra value comes from.

What else is worth having open alongside it?

Present Value of a Growing Annuity Calculator and Present value calculator — they come up in the same task often enough to be worth a second tab.

Where do the figures come from?

Discounting, IRR and payback are defined identically everywhere, so the arithmetic is not in dispute — the assumptions you feed it are. Change the discount rate by a point and re-read the answer.

Further reading

All guides →
ExplainerPresent Value vs Future Value: Why Money in Thirty Years Is Worth About an Eighth of Its FacePV = FV ÷ (1+r)^n. At 7 percent over 30 years the discount factor is 0.131, so a promise of $100,000 in thirty years is worth $13,137 today — and $41,199 if you assume 3 percent instead.ExplainerAnnuities: What You Are Actually BuyingAn annuity's price is a present value over a probability-weighted term. On a stated mortality at 4 percent, $100,000 at 65 buys $7,492 a year — 4.00 points of interest, 1.78 of returned capital and 1.71 of mortality credit.GuideBuying Back Retirement Quarters or Points: From What Age It Stops PayingThe usual advice is that a buy-back gets worse with age, because the price rises. The French scale is written to be actuarially neutral, so that is not quite what is happening — and once you see what actually moves the answer, the decision changes. Computed on the current parameters.ComparisonNPV vs IRR: What to Do When the Two Rules Rank the Same Projects DifferentlyIRR picks the $10,000 project returning 50 percent; NPV picks the $100,000 project returning 30 percent, worth $20,370 against $3,889. And a mine with a cleanup cost has two IRRs, 10 and 20 percent, so the rate answers nothing.ExplainerWhat an Investment Return Number Is Not Telling YouA fund can return 9.49 percent a year while its investor earns −1.77 percent. Time-weighted versus money-weighted, nominal versus real, gross versus net — four questions inside one number, separated with arithmetic.ComparisonLife Assurance or a Pension Plan: the Lock-Up Decides, Not the Tax BreakScore both wrappers on the same rows and the pension plan wins the arithmetic at almost every horizon and almost every combination of tax rates — including when the rate does not fall at all. Which is exactly why the deduction is the wrong thing to decide on.