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Finance Calc Kit
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Present Value Annuity Factor Table

Generate printable present value interest factor of an annuity (PVIFA) tables for ordinary annuities and annuities due.

PVIFA table settings

Interest rate columns (i)

%
%

Period rows (n)

PVIFA for $1 (ordinary annuity)

0.990099

Click any table cell to inspect that factor

Present value annuity factor table

PVOA = [1 − (1 + i)⁻ⁿ] / i

n \ i1.0%2.0%3.0%4.0%5.0%6.0%
n = 10.9900990.9803920.9708740.9615380.9523810.943396
n = 21.9703951.9415611.9134701.8860951.8594101.833393
n = 32.9409852.8838832.8286112.7750912.7232482.673012
n = 43.9019663.8077293.7170983.6298953.5459513.465106
n = 54.8534314.7134604.5797074.4518224.3294774.212364
n = 65.7954765.6014315.4171915.2421375.0756924.917324
n = 76.7281956.4719916.2302836.0020555.7863735.582381
n = 87.6516787.3254817.0196926.7327456.4632136.209794
n = 98.5660188.1622377.7861097.4353327.1078226.801692
n = 109.4713058.9825858.5302038.1108967.7217357.360087
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What Is a Present Value Annuity Factor Table?

A present value annuity factor table (PVIFA table) lists the discount multipliers used to convert a stream of equal periodic payments into a single lump sum today. Each cell shows how much $1 of annual (or periodic) cash flow is worth in present value terms at a given interest rate and number of periods.

Finance students, CPAs, and investment analysts use PVIFA tables to speed up bond pricing, lease analysis, and retirement planning without recalculating formulas by hand. To convert a specific dollar payment into present value, multiply your payment by the factor from this table, or use our present value calculator for custom inputs. For single lump-sum discount factors rather than annuities, see the present value factor table.

PVIFA Formulas

The present value interest factor of an ordinary annuity (payments at period end) is:

PVIFAordinary=1−(1+i)−ni\mathrm{PVIFA}_{\mathrm{ordinary}} = \frac{1 - (1 + i)^{-n}}{i}

When payments occur at the beginning of each period (annuity due), multiply the ordinary factor by (1+i)(1 + i):

PVIFAdue=1−(1+i)−ni×(1+i)\mathrm{PVIFA}_{\mathrm{due}} = \frac{1 - (1 + i)^{-n}}{i} \times (1 + i)

Where ii is the periodic interest rate (as a decimal) and nn is the number of periods. At zero interest, the factor equals nn because each dollar of payment has equal weight.

Worked Example

Find the PVIFA at 5% for 10 periods (ordinary annuity). Using the formula:

PVIFA=1−(1.05)−100.05=1−0.6139130.05=7.721735\mathrm{PVIFA} = \frac{1 - (1.05)^{-10}}{0.05} = \frac{1 - 0.613913}{0.05} = 7.721735

A $1,000 annual payment for 10 years at 5% has a present value of $7,721.74. The forward-looking counterpart is the future value annuity factor in our FVIFA calculator.

Frequently asked questions

What is the difference between PVIFA and PVIF?
PVIFA discounts a series of equal payments. PVIF discounts a single future lump sum. Use the present value factor table for one-time cash flows and this PVIFA table for uniform payment streams.
When should I use an annuity due instead of an ordinary annuity?
Use annuity due when payments occur at the start of each period, such as rent paid on the first of the month or insurance premiums due upfront. Ordinary annuity applies when payments arrive at period end, like typical bond coupons.
How do I apply a table factor to my own payment amount?
Multiply your periodic payment by the PVIFA from the table cell matching your rate and period count. For example, $500 per year for 8 years at 6% uses the n=8, i=6% cell: PV = $500 × PVIFA.
Are results stored on your server?
No. The table is generated entirely in your browser. Adjusting rates, periods, or decimal places updates the URL so you can bookmark or share your configuration.

Resources and references

The formulas and methods in this calculator were checked against these independent sources.