PVIFA Calculator

Enter the interest rate per period and number of periods to calculate the present value interest factor of annuity using this PVIFA calculator.

PVIFA Formula

The formula for calculating the present value interest factor of annuity is as follows:

PVIFA = (1-(1+r)^-n) / r

  • Where r is the interest rate per period
  • n is the number of periods

PVIFA Definition

What is PVIFA? PVIFA is defined as the present value of interest factor of annuity. This factor is often used to determine an ordinary annuity or the present value of some series of annuities. This is done by multiplying a recurring payment by the factor.

What does PVIFA mean in economics? PVIFA is a term used in the fields of economics, finance, and accounting. PVIFA stands for the present value of interest factor of the annuity.

What is PVIFA used for? PVIFA is used to determine whether taking a single payment immediately or several annuity payments in the future is more beneficial to an individual or business. In other words, whether there is more value in future payments of a single payment now. This factor can only be used when the payments in the future are constant and known.

How to calculate PVIFA?

  1. First, determine the average interest rate per period. The interest rate per period is typically constant, but if it is not, use the average of all of the periods. For this example, we will assume a standard yearly return of 8%.
  2. Next, determine the number of periods. For this problem, the time period being analyzed is 5 years long, which is equal to 5 periods.
  3. Finally, calculate the PVIFA. Using the formula above, the PVIFA is determined to be (1-(1+.08)^5) / .08 = 3.992

PVIFA Table

The following table shows PVIFA values for periods of 1 to 50 and interest rates from 1% to 22%.

How to do PVIFA table in excel? The below table was created using excel. To replicate this table, set up the desired periods and interest rates and then use the cell formula in the 1 x 1 location (shown bold below) as =(1-(1+$B$2)^(-A3))/($B$2). Afterward, drag the formula to the right and then down to fill the tables.

PVIFA TABLEInterest Rate (%)
Periods1.0%1.5%2.0%2.5%3.0%3.5%4.0%5.0%6.0%7.0%8.0%9.0%10.0%11.0%12.0%13.0%14.0%15.0%16.0%17.0%18.0%19.0%20.0%21.0%22.0%
10.990100.980340.970730.961260.951930.942730.933660.924720.915910.907220.898650.890200.881870.873650.865540.857540.849650.841870.834190.826610.819130.811750.804470.797270.79018
21.970401.941511.913331.885821.858951.832721.807091.782041.757561.733631.710231.687331.664941.643021.621571.600571.580001.559861.540131.520801.501851.483281.465081.447221.42972
32.940992.883972.828872.775572.723992.674062.625692.578822.533362.489282.446492.404952.364592.325392.287272.250212.214152.179062.144902.111632.079232.047642.016861.986841.95755
43.901973.808183.718373.632293.549723.470433.394253.321003.250503.182613.117183.054092.993212.934432.877642.822742.769642.718262.668502.620312.573602.528302.484362.441722.40032
54.853434.714574.582824.457654.338584.225174.117034.013813.915173.820813.730473.643903.560853.481133.404543.330893.260023.191783.126033.062623.001442.942382.885322.830172.77683
65.795485.603575.423145.253195.092844.941284.797834.661834.532744.410024.293234.181954.075793.974413.877493.784753.695923.610763.529053.450593.375173.302643.232833.165583.10077
76.728196.475596.240236.020395.814595.621525.440035.269115.107874.955504.811304.674614.544874.421574.304234.192434.085793.983963.886633.793503.704313.618803.536773.458003.38230
87.651687.331057.034936.760616.505756.268366.046695.839245.644665.461805.289645.127254.973834.828654.691074.560504.436434.318384.205924.098673.996263.898393.804763.715093.62915
98.566028.170337.808067.475137.168126.884096.620566.375386.146695.932875.732535.544435.367475.200705.043254.894374.753374.619654.492664.371904.256924.147324.042733.942823.84727
109.471308.993818.560388.165187.803337.470797.164106.880376.617106.372156.143685.930065.729895.541955.365135.198495.041164.892394.751504.617884.490974.370294.255394.145864.04134
1110.367639.801869.292648.831888.412938.030347.679557.356757.058706.782666.526266.287496.064575.855995.660395.476605.303585.140404.986274.840434.702244.571114.446524.327984.21507
1211.2550810.5948410.005549.476308.998338.564508.168947.806787.473967.167046.883096.619636.374516.145875.932115.731825.543765.366845.200105.042694.893834.752874.619174.492204.37146
1312.1337411.3731010.6997710.099469.560859.074868.634108.232517.865097.527627.216596.928996.662276.414236.182965.966825.764375.574345.395645.227265.068344.918114.775874.641004.51295
1413.0037012.1369811.3759510.7023010.101739.562899.076718.635788.234057.866497.528927.217786.930106.663306.415186.183855.967655.765155.575085.396335.227915.068964.918704.776434.64153
1513.8650512.8868112.0347211.2857310.6221010.029969.498299.018248.582618.185487.821967.487937.179946.895056.630746.384866.155545.941165.740315.551735.374355.207185.049384.900174.75887
1614.7178713.6229112.6766711.8505911.1230510.477309.900249.381398.912358.486248.097407.741147.413507.111176.831316.571516.329676.103995.892905.695035.509185.334275.169375.013654.86635
1715.5622514.3456013.3023512.3976911.6055610.9060910.283839.726619.224718.770238.356737.978907.632287.313167.018396.745266.491476.255046.034245.827575.633705.451505.279925.118084.96515
1917.2260115.7519314.5071013.4415712.5189511.7121511.0005310.368109.802289.293038.832228.413258.030637.679827.357007.058936.782876.526466.287676.064755.856155.660545.476745.303715.14053
1917.2260115.7519314.5071013.4415712.5189511.7121511.0005310.368109.802289.293038.832228.413258.030637.679827.357007.058936.782876.526466.287676.064755.856155.660545.476745.303715.14053
2018.0455516.4361515.0871913.9397412.9515312.0913511.3357110.6665410.069739.534099.050658.612088.212417.846657.510667.200936.914496.648806.401686.171255.955865.754095.564695.386545.21869
2118.8569817.1081315.6530514.4229513.3690612.4558111.6566710.9513810.324269.762929.257508.799998.383868.003747.655117.334227.037866.763336.508286.270726.048905.841305.646605.463635.29136
2219.6603817.7681316.2051614.8918013.7722612.8063411.9642611.2235110.566759.980399.453648.977818.545838.151887.791137.459557.153726.870756.608166.363836.135905.922785.723065.535535.35909
2320.4558218.4164216.7439615.3468514.1618213.1436712.2592611.4837210.7980110.187309.639869.146318.699048.291797.919417.577607.262726.971706.701936.451156.217425.999065.794595.602745.42236
2421.2433919.0532617.2698615.7886814.5383613.4684912.5423811.7327311.0187610.384359.816879.306198.844168.424138.040597.688977.365437.066736.790106.533196.293946.070615.861645.665695.48159
2522.0231619.6788917.7832816.2177914.9024913.7814412.8143011.9712311.2296710.572239.985309.458068.981818.549478.155217.794197.462367.156326.873166.610406.365916.137855.924605.724775.53713
2622.7952020.2935618.2846016.6346815.2547614.0831213.0756312.1998311.4313610.7515310.145759.602509.112538.668348.263777.893747.553987.240936.951536.683206.433716.201145.983835.780325.58933
2723.5596120.8975118.7741917.0398215.5957014.3741013.3269412.4191211.6244010.9227910.298749.740019.236808.781218.366747.988067.640717.320937.025576.751936.497686.260836.039655.832645.63847
2824.3164421.4909819.2524317.4336615.9258214.6549013.5687712.6296111.8093111.0865310.444779.871069.355098.888508.464528.077547.722907.396707.095646.816926.558126.317196.092335.881995.68479
2925.0657922.0741819.7196617.8166216.2455814.9260213.8016212.8318111.9865711.2432210.584289.996099.467798.990628.557488.162537.800907.468557.162036.878466.615326.370506.142135.928615.72853
3025.8077122.6473420.1762018.1891216.5554415.1879114.0259613.0261712.1566211.3932710.7176910.115499.575289.087918.645968.243347.875027.536767.225026.936806.669526.420986.189265.972725.76990
3126.5422923.2106720.6223918.5515316.8558115.4410214.2422113.2131212.3198711.5370910.8453610.229619.677909.180698.730268.320287.945517.601607.284866.992196.720956.468856.233946.014515.80908
3227.2695923.7643821.0585318.9042317.1470915.6857414.4507813.3930512.4767111.6750310.9676510.338789.775969.269268.810668.393608.012657.663307.341767.044846.769806.514316.276346.054155.84622
3327.9896924.3086821.4849119.2475617.4296615.9224714.6520613.5663212.6274811.8074511.0848810.443309.869749.353908.887438.463548.076647.722087.395947.094946.816266.557526.316636.091805.88149
3428.7026724.8437621.9018319.5818717.7038716.1515614.8463913.7333012.7725311.9346411.1973410.543469.959529.434848.960788.530338.137717.778137.447587.142666.860506.598646.354956.127615.91502
3529.4085825.3698122.3095619.9074717.9700616.3733615.0341113.8942812.9121412.0568911.3053010.6395110.045549.512319.030938.594168.196047.831647.496847.188176.902676.637826.391456.161705.94692
3630.1075125.8870322.7083720.2246618.2285616.5881815.2155414.0495813.0466212.1744911.4090210.7316810.128009.586549.098098.655228.251807.882767.543897.231606.942906.675186.426256.194185.97732
3730.7995126.3956023.0985120.5337518.4796616.7963315.3909614.1994813.1762112.2876711.5087310.8202110.207139.657709.162438.713688.305157.931667.588867.273116.981326.710856.459456.225176.00631
3831.4846626.8956923.4802320.8350118.7236616.9980915.5606514.3442313.3011712.3966611.6046610.9052810.283119.725979.224138.769708.356257.978467.631887.312797.018046.744946.491176.254766.03398
3932.1630327.3874823.8537621.1287018.9608317.1937415.7248714.4840813.4217412.5016911.6969910.9871010.356139.791539.283328.823428.405238.023297.673077.350787.053186.777546.521506.283056.06042
4032.8346927.8711424.2193421.4150919.1914317.3835315.8838714.6192713.5381212.6029611.7859211.0658410.426339.854529.340178.874988.452208.066277.712557.387177.086836.808746.550526.310116.08571
4133.4996928.3468424.5771921.6944119.4157217.5677016.0378814.7500113.6505312.7006611.8716411.1416510.493889.915099.394798.924498.497298.107517.750427.422057.119076.838646.578326.336016.10992
4234.1581128.8147424.9275321.9669019.6339217.7464816.1871114.8765013.7591412.7949611.9542911.2147010.558919.973379.447318.972088.540618.147117.786767.455527.150006.867306.604966.360846.13311
4334.8100129.2750025.2705522.2327919.8462617.9200916.3317614.9989413.8641412.8860212.0340311.2851210.6215610.029479.497859.017848.582258.185167.821667.487667.179696.894816.630526.384656.15535
4435.4554529.7277725.6064722.4922920.0529618.0887316.4720515.1175113.9657012.9740112.1110111.3530510.6819510.083529.546519.061888.622308.221747.855217.518537.208206.921226.655056.407506.17668
4536.0945130.1732025.9354622.7456120.2542218.2526016.6081315.2323714.0639813.0590712.1853711.4186110.7402010.135629.593399.104298.660858.256947.887487.548227.235616.946606.678626.429456.19717
4636.7272430.6114426.2577222.9929420.4502318.4118816.7402015.3436914.1591113.1413312.2572211.4819210.7964110.185879.638589.145158.697988.290837.918537.576797.261976.971016.701286.450556.21686
4737.3537031.0426326.5734423.2344720.6411918.5667616.8684115.4516214.2512513.2209312.3266811.5430810.8506810.234369.682179.184558.733778.323487.948447.604297.287346.994496.723086.470846.23579
4837.9739631.4669126.8827723.4703920.8272618.7173916.9929215.5563014.3405213.2979812.3938711.6022010.9031110.281179.724239.222558.768278.354957.977267.630787.311787.017116.744076.490376.25401
4938.5880831.8844227.1858923.7008721.0086218.8639417.1138715.6578714.4270513.3725912.4589011.6593810.9537810.326409.764859.259238.801568.385308.005057.656327.335337.038896.764286.509176.27155
5039.1961232.2952827.4829723.9260821.1854419.0065717.2314215.7564614.5109613.4448912.5218411.7146911.0027810.370119.804089.294658.833708.414598.031867.680957.358047.059896.783766.527296.28845
pvifa calculator
pvifa formula