Present Value of $1 Annuity Table

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Present Value of Annuity Table (PVIFA)

Annuity Type:

Interest Rates (i) : Columns

Columns:
20 max

Starting Rate: %

Increments: %

Periods (n) : Rows

Rows:
50 max

Starting Period:

Increments:

Answer:

Print Table

Present Value of an
Ordinary Annuity of $1
\[ PVOA=\frac{\$1}{i}\left[1-\frac{1}{(1+i)^n}\right] \]

n / i

3.25%

8.42240

14.53935

18.98192

22.20843

24.55176

26.25366

27.48969

28.38740

29.03937

100

29.51288

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Calculator Use

PVIFA calculator. Calculate the present value interest factor of an annuity (PVIFA) and create a table of PVIFA values. Create a printable compound interest table for the present value of an ordinary annuity or present value of an annuity due for payments of $1.

Present Value of an Annuity Formula

$ PV=\dfrac{PMT}{i}\left[1-\dfrac{1}{(1+i)^n}\right](1+iT) $

where i is the interest rate per period and n is the total number of periods with compounding occurring once per period.

Since the annuity is payments of $1, PMT = $1 and we have

$ PV=\dfrac{\$1}{i}\left[1-\dfrac{1}{(1+i)^n}\right](1+iT) $

T represents the type. (similar to Excel formulas) If payments are at the end of the period it is an ordinary annuity and we set T = 0. If payments are at the beginning of the period it is an annuity due and we set T = 1.

Present Value of an Ordinary Annuity (PVOA)

If type is ordinary, T = 0 and the equation reduces to the formula for present value of an ordinary annuity

$ PVOA=\dfrac{\$1}{i}\left[1-\dfrac{1}{(1+i)^n}\right] $

Present Value of an Annuity Due (PVAD)

otherwise T = 1 and the equation reduces to the formula for present value of an annuity due

$ PVAD=\dfrac{\$1}{i}\left[1-\dfrac{1}{(1+i)^n}\right](1+i) $

You can then look up the present value interest factor in the table and use this value as a factor in calculating the present value of an annuity, series of payments.