Present Value Interest Factor (PVIF) Table

December 1, 2023

The Present Value Interest Factor (PVIF) is an essential financial tool for estimating the current worth of a future sum of money. This tool is grounded in a fundamental financial principle: the time value of money. This principle posits that due to factors like inflation and opportunity cost, the value of a given sum of money is invariably higher now than it will be in the future, assuming the sum remains unchanged. The PVIF is instrumental in converting future cash flows to their present value.

To compute the PVIF, the following formula is employed:

PVIF = 1 / (1 + r)^n

Here’s a breakdown of the formula:

PVIF stands for the Present Value Interest Factor. It signifies the worth of every 1 unit of currency today at a future date.
‘r’ denotes the annual interest rate. This rate reflects the cost or return associated with using the money.
‘n’ represents the number of periods, typically measured in years. It indicates the time duration from now until the future payment occurs.

To simplify this calculation, one can utilize a PVIF table. This table presents PVIFs for various combinations of periods (‘n’) and interest rates (‘r’). It enables you to locate the necessary coefficient value swiftly, bypassing the need for intricate mathematical computations.

Here is the complete PVIF Table:

PVIF Table 1: Interest Rate r = 1%-5%, Number of Periods n = 1-25

Number of Periods	1%	2%	3%	4%	5%
1	0.9901	0.9804	0.9709	0.9615	0.9524
2	0.9803	0.9612	0.9426	0.9246	0.9070
3	0.9706	0.9423	0.9151	0.8890	0.8638
4	0.9610	0.9238	0.8885	0.8548	0.8227
5	0.9515	0.9057	0.8626	0.8219	0.7835
6	0.9420	0.8880	0.8375	0.7903	0.7462
7	0.9327	0.8706	0.8131	0.7599	0.7107
8	0.9235	0.8535	0.7894	0.7307	0.6768
9	0.9143	0.8368	0.7664	0.7026	0.6446
10	0.9053	0.8203	0.7441	0.6756	0.6139
11	0.8963	0.8043	0.7224	0.6496	0.5847
12	0.8874	0.7885	0.7014	0.6246	0.5568
13	0.8787	0.7730	0.6810	0.6006	0.5303
14	0.8700	0.7579	0.6611	0.5775	0.5051
15	0.8613	0.7430	0.6419	0.5553	0.4810
16	0.8528	0.7284	0.6232	0.5339	0.4581
17	0.8444	0.7142	0.6050	0.5134	0.4363
18	0.8360	0.7002	0.5874	0.4936	0.4155
19	0.8277	0.6864	0.5703	0.4746	0.3957
20	0.8195	0.6730	0.5537	0.4564	0.3769
21	0.8114	0.6598	0.5375	0.4388	0.3589
22	0.8034	0.6468	0.5219	0.4220	0.3418
23	0.7954	0.6342	0.5067	0.4057	0.3256
24	0.7876	0.6217	0.4919	0.3901	0.3101
25	0.7798	0.6095	0.4776	0.3751	0.2953

PVIF Table 2: Interest Rate r = 1%-5%, Number of Periods n = 26-50

Number of Periods	1%	2%	3%	4%	5%
26	0.7720	0.5976	0.4637	0.3607	0.2812
27	0.7644	0.5859	0.4502	0.3468	0.2678
28	0.7568	0.5744	0.4371	0.3335	0.2551
29	0.7493	0.5631	0.4243	0.3207	0.2429
30	0.7419	0.5521	0.4120	0.3083	0.2314
31	0.7346	0.5412	0.4000	0.2965	0.2204
32	0.7273	0.5306	0.3883	0.2851	0.2099
33	0.7201	0.5202	0.3770	0.2741	0.1999
34	0.7130	0.5100	0.3660	0.2636	0.1904
35	0.7059	0.5000	0.3554	0.2534	0.1813
36	0.6989	0.4902	0.3450	0.2437	0.1727
37	0.6920	0.4806	0.3350	0.2343	0.1644
38	0.6852	0.4712	0.3252	0.2253	0.1566
39	0.6784	0.4619	0.3158	0.2166	0.1491
40	0.6717	0.4529	0.3066	0.2083	0.1420
41	0.6650	0.4440	0.2976	0.2003	0.1353
42	0.6584	0.4353	0.2890	0.1926	0.1288
43	0.6519	0.4268	0.2805	0.1852	0.1227
44	0.6454	0.4184	0.2724	0.1780	0.1169
45	0.6391	0.4102	0.2644	0.1712	0.1113
46	0.6327	0.4022	0.2567	0.1646	0.1060
47	0.6265	0.3943	0.2493	0.1583	0.1009
48	0.6203	0.3865	0.2420	0.1522	0.0961
49	0.6141	0.3790	0.2350	0.1463	0.0916
50	0.6080	0.3715	0.2281	0.1407	0.0872

PVIF Table 3: Interest Rate r = 6%-10%, Number of Periods n = 1-25

Number of Periods	6%	7%	8%	9%	10%
1	0.9434	0.9346	0.9259	0.9174	0.9091
2	0.8900	0.8734	0.8573	0.8417	0.8264
3	0.8396	0.8163	0.7938	0.7722	0.7513
4	0.7921	0.7629	0.7350	0.7084	0.6830
5	0.7473	0.7130	0.6806	0.6499	0.6209
6	0.7050	0.6663	0.6302	0.5963	0.5645
7	0.6651	0.6227	0.5835	0.5470	0.5132
8	0.6274	0.5820	0.5403	0.5019	0.4665
9	0.5919	0.5439	0.5002	0.4604	0.4241
10	0.5584	0.5083	0.4632	0.4224	0.3855
11	0.5268	0.4751	0.4289	0.3875	0.3505
12	0.4970	0.4440	0.3971	0.3555	0.3186
13	0.4688	0.4150	0.3677	0.3262	0.2897
14	0.4423	0.3878	0.3405	0.2992	0.2633
15	0.4173	0.3624	0.3152	0.2745	0.2394
16	0.3936	0.3387	0.2919	0.2519	0.2176
17	0.3714	0.3166	0.2703	0.2311	0.1978
18	0.3503	0.2959	0.2502	0.2120	0.1799
19	0.3305	0.2765	0.2317	0.1945	0.1635
20	0.3118	0.2584	0.2145	0.1784	0.1486
21	0.2942	0.2415	0.1987	0.1637	0.1351
22	0.2775	0.2257	0.1839	0.1502	0.1228
23	0.2618	0.2109	0.1703	0.1378	0.1117
24	0.2470	0.1971	0.1577	0.1264	0.1015
25	0.2330	0.1842	0.1460	0.1160	0.0923

PVIF Table 4: Interest Rate r = 6%-10%, Number of Periods n = 26-50

Number of Periods	6%	7%	8%	9%	10%
26	0.2198	0.1722	0.1352	0.1064	0.0839
27	0.2074	0.1609	0.1252	0.0976	0.0763
28	0.1956	0.1504	0.1159	0.0895	0.0693
29	0.1846	0.1406	0.1073	0.0822	0.0630
30	0.1741	0.1314	0.0994	0.0754	0.0573
31	0.1643	0.1228	0.0920	0.0691	0.0521
32	0.1550	0.1147	0.0852	0.0634	0.0474
33	0.1462	0.1072	0.0789	0.0582	0.0431
34	0.1379	0.1002	0.0730	0.0534	0.0391
35	0.1301	0.0937	0.0676	0.0490	0.0356
36	0.1227	0.0875	0.0626	0.0449	0.0323
37	0.1158	0.0818	0.0580	0.0412	0.0294
38	0.1092	0.0765	0.0537	0.0378	0.0267
39	0.1031	0.0715	0.0497	0.0347	0.0243
40	0.0972	0.0668	0.0460	0.0318	0.0221
41	0.0917	0.0624	0.0426	0.0292	0.0201
42	0.0865	0.0583	0.0395	0.0268	0.0183
43	0.0816	0.0545	0.0365	0.0246	0.0166
44	0.0770	0.0509	0.0338	0.0226	0.0151
45	0.0727	0.0476	0.0313	0.0207	0.0137
46	0.0685	0.0445	0.0290	0.0190	0.0125
47	0.0647	0.0416	0.0269	0.0174	0.0113
48	0.0610	0.0389	0.0249	0.0160	0.0103
49	0.0575	0.0363	0.0230	0.0147	0.0094
50	0.0543	0.0339	0.0213	0.0134	0.0085

PVIF Table 5: Interest Rate r = 11%-15%, Number of Periods n = 1-25

Number of Periods	11%	12%	13%	14%	15%
1	0.9009	0.8929	0.8850	0.8772	0.8696
2	0.8116	0.7972	0.7831	0.7695	0.7561
3	0.7312	0.7118	0.6931	0.6750	0.6575
4	0.6587	0.6355	0.6133	0.5921	0.5718
5	0.5935	0.5674	0.5428	0.5194	0.4972
6	0.5346	0.5066	0.4803	0.4556	0.4323
7	0.4817	0.4523	0.4251	0.3996	0.3759
8	0.4339	0.4039	0.3762	0.3506	0.3269
9	0.3909	0.3606	0.3329	0.3075	0.2843
10	0.3522	0.3220	0.2946	0.2697	0.2472
11	0.3173	0.2875	0.2607	0.2366	0.2149
12	0.2858	0.2567	0.2307	0.2076	0.1869
13	0.2575	0.2292	0.2042	0.1821	0.1625
14	0.2320	0.2046	0.1807	0.1597	0.1413
15	0.2090	0.1827	0.1599	0.1401	0.1229
16	0.1883	0.1631	0.1415	0.1229	0.1069
17	0.1696	0.1456	0.1252	0.1078	0.0929
18	0.1528	0.1300	0.1108	0.0946	0.0808
19	0.1377	0.1161	0.0981	0.0829	0.0703
20	0.1240	0.1037	0.0868	0.0728	0.0611
21	0.1117	0.0926	0.0768	0.0638	0.0531
22	0.1007	0.0826	0.0680	0.0560	0.0462
23	0.0907	0.0738	0.0601	0.0491	0.0402
24	0.0817	0.0659	0.0532	0.0431	0.0349
25	0.0736	0.0588	0.0471	0.0378	0.0304

PVIF Table 6: Interest Rate r = 11%-15%, Number of Periods n = 26-50

Number of Periods	11%	12%	13%	14%	15%
26	0.0663	0.0525	0.0417	0.0331	0.0264
27	0.0597	0.0469	0.0369	0.0291	0.0230
28	0.0538	0.0419	0.0326	0.0255	0.0200
29	0.0485	0.0374	0.0289	0.0224	0.0174
30	0.0437	0.0334	0.0256	0.0196	0.0151
31	0.0394	0.0298	0.0226	0.0172	0.0131
32	0.0355	0.0266	0.0200	0.0151	0.0114
33	0.0319	0.0238	0.0177	0.0132	0.0099
34	0.0288	0.0212	0.0157	0.0116	0.0086
35	0.0259	0.0189	0.0139	0.0102	0.0075
36	0.0234	0.0169	0.0123	0.0089	0.0065
37	0.0210	0.0151	0.0109	0.0078	0.0057
38	0.0190	0.0135	0.0096	0.0069	0.0049
39	0.0171	0.0120	0.0085	0.0060	0.0043
40	0.0154	0.0107	0.0075	0.0053	0.0037
41	0.0139	0.0096	0.0067	0.0046	0.0032
42	0.0125	0.0086	0.0059	0.0041	0.0028
43	0.0112	0.0076	0.0052	0.0036	0.0025
44	0.0101	0.0068	0.0046	0.0031	0.0021
45	0.0091	0.0061	0.0041	0.0027	0.0019
46	0.0082	0.0054	0.0036	0.0024	0.0016
47	0.0074	0.0049	0.0032	0.0021	0.0014
48	0.0067	0.0043	0.0028	0.0019	0.0012
49	0.0060	0.0039	0.0025	0.0016	0.0011
50	0.0054	0.0035	0.0022	0.0014	0.0009

PVIF Table 7: Interest Rate r = 16%-20%, Number of Periods n = 1-25

Number of Periods	16%	17%	18%	19%	20%
1	0.8621	0.8547	0.8475	0.8403	0.8333
2	0.7432	0.7305	0.7182	0.7062	0.6944
3	0.6407	0.6244	0.6086	0.5934	0.5787
4	0.5523	0.5337	0.5158	0.4987	0.4823
5	0.4761	0.4561	0.4371	0.4190	0.4019
6	0.4104	0.3898	0.3704	0.3521	0.3349
7	0.3538	0.3332	0.3139	0.2959	0.2791
8	0.3050	0.2848	0.2660	0.2487	0.2326
9	0.2630	0.2434	0.2255	0.2090	0.1938
10	0.2267	0.2080	0.1911	0.1756	0.1615
11	0.1954	0.1778	0.1619	0.1476	0.1346
12	0.1685	0.1520	0.1372	0.1240	0.1122
13	0.1452	0.1299	0.1163	0.1042	0.0935
14	0.1252	0.1110	0.0985	0.0876	0.0779
15	0.1079	0.0949	0.0835	0.0736	0.0649
16	0.0930	0.0811	0.0708	0.0618	0.0541
17	0.0802	0.0693	0.0600	0.0520	0.0451
18	0.0691	0.0592	0.0508	0.0437	0.0376
19	0.0596	0.0506	0.0431	0.0367	0.0313
20	0.0514	0.0433	0.0365	0.0308	0.0261
21	0.0443	0.0370	0.0309	0.0259	0.0217
22	0.0382	0.0316	0.0262	0.0218	0.0181
23	0.0329	0.0270	0.0222	0.0183	0.0151
24	0.0284	0.0231	0.0188	0.0154	0.0126
25	0.0245	0.0197	0.0160	0.0129	0.0105

PVIF Table 8: Interest Rate r = 16%-20%, Number of Periods n = 26-50

Number of Periods	16%	17%	18%	19%	20%
26	0.0211	0.0169	0.0135	0.0109	0.0087
27	0.0182	0.0144	0.0115	0.0091	0.0073
28	0.0157	0.0123	0.0097	0.0077	0.0061
29	0.0135	0.0105	0.0082	0.0064	0.0051
30	0.0116	0.0090	0.0070	0.0054	0.0042
31	0.0100	0.0077	0.0059	0.0046	0.0035
32	0.0087	0.0066	0.0050	0.0038	0.0029
33	0.0075	0.0056	0.0042	0.0032	0.0024
34	0.0064	0.0048	0.0036	0.0027	0.0020
35	0.0055	0.0041	0.0030	0.0023	0.0017
36	0.0048	0.0035	0.0026	0.0019	0.0014
37	0.0041	0.0030	0.0022	0.0016	0.0012
38	0.0036	0.0026	0.0019	0.0013	0.0010
39	0.0031	0.0022	0.0016	0.0011	0.0008
40	0.0026	0.0019	0.0013	0.0010	0.0007
41	0.0023	0.0016	0.0011	0.0008	0.0006
42	0.0020	0.0014	0.0010	0.0007	0.0005
43	0.0017	0.0012	0.0008	0.0006	0.0004
44	0.0015	0.0010	0.0007	0.0005	0.0003
45	0.0013	0.0009	0.0006	0.0004	0.0003
46	0.0011	0.0007	0.0005	0.0003	0.0002
47	0.0009	0.0006	0.0004	0.0003	0.0002
48	0.0008	0.0005	0.0004	0.0002	0.0002
49	0.0007	0.0005	0.0003	0.0002	0.0001
50	0.0006	0.0004	0.0003	0.0002	0.0001

PVIF Table 9: Interest Rate r = 21%-25%, Number of Periods n = 1-25

Number of Periods	21%	22%	23%	24%	25%
1	0.8264	0.8197	0.8130	0.8065	0.8000
2	0.6830	0.6719	0.6610	0.6504	0.6400
3	0.5645	0.5507	0.5374	0.5245	0.5120
4	0.4665	0.4514	0.4369	0.4230	0.4096
5	0.3855	0.3700	0.3552	0.3411	0.3277
6	0.3186	0.3033	0.2888	0.2751	0.2621
7	0.2633	0.2486	0.2348	0.2218	0.2097
8	0.2176	0.2038	0.1909	0.1789	0.1678
9	0.1799	0.1670	0.1552	0.1443	0.1342
10	0.1486	0.1369	0.1262	0.1164	0.1074
11	0.1228	0.1122	0.1026	0.0938	0.0859
12	0.1015	0.0920	0.0834	0.0757	0.0687
13	0.0839	0.0754	0.0678	0.0610	0.0550
14	0.0693	0.0618	0.0551	0.0492	0.0440
15	0.0573	0.0507	0.0448	0.0397	0.0352
16	0.0474	0.0415	0.0364	0.0320	0.0281
17	0.0391	0.0340	0.0296	0.0258	0.0225
18	0.0323	0.0279	0.0241	0.0208	0.0180
19	0.0267	0.0229	0.0196	0.0168	0.0144
20	0.0221	0.0187	0.0159	0.0135	0.0115
21	0.0183	0.0154	0.0129	0.0109	0.0092
22	0.0151	0.0126	0.0105	0.0088	0.0074
23	0.0125	0.0103	0.0086	0.0071	0.0059
24	0.0103	0.0085	0.0070	0.0057	0.0047
25	0.0085	0.0069	0.0057	0.0046	0.0038

PVIF Table 10: Interest Rate r = 21%-25%, Number of Periods n = 26-50

Number of Periods	21%	22%	23%	24%	25%
26	0.0070	0.0057	0.0046	0.0037	0.0030
27	0.0058	0.0047	0.0037	0.0030	0.0024
28	0.0048	0.0038	0.0030	0.0024	0.0019
29	0.0040	0.0031	0.0025	0.0020	0.0015
30	0.0033	0.0026	0.0020	0.0016	0.0012
31	0.0027	0.0021	0.0016	0.0013	0.0010
32	0.0022	0.0017	0.0013	0.0010	0.0008
33	0.0019	0.0014	0.0011	0.0008	0.0006
34	0.0015	0.0012	0.0009	0.0007	0.0005
35	0.0013	0.0009	0.0007	0.0005	0.0004
36	0.0010	0.0008	0.0006	0.0004	0.0003
37	0.0009	0.0006	0.0005	0.0003	0.0003
38	0.0007	0.0005	0.0004	0.0003	0.0002
39	0.0006	0.0004	0.0003	0.0002	0.0002
40	0.0005	0.0004	0.0003	0.0002	0.0001
41	0.0004	0.0003	0.0002	0.0001	0.0001
42	0.0003	0.0002	0.0002	0.0001	0.0001
43	0.0003	0.0002	0.0001	0.0001	0.0001
44	0.0002	0.0002	0.0001	0.0001	0.0001
45	0.0002	0.0001	0.0001	0.0001	0.0000
46	0.0002	0.0001	0.0001	0.0001	0.0000
47	0.0001	0.0001	0.0001	0.0000	0.0000
48	0.0001	0.0001	0.0000	0.0000	0.0000
49	0.0001	0.0001	0.0000	0.0000	0.0000
50	0.0001	0.0000	0.0000	0.0000	0.0000

PVIF Table Use Case

Imagine you have an opportunity to receive 1000 dollars in 5 years. To determine the present worth of this amount today, you would use the Present Value Interest Factor (PVIF).

First, you need to identify the applicable annual interest rate. Let’s consider it to be 5%. By consulting a PVIF table, where you locate the intersection of n (the number of years, which is 5 in our example) and r (the interest rate of 5%), you find the corresponding PVIF. For n=5 and r=5%, the PVIF is 0.7835. This figure represents the present value of each dollar due in 5 years.

Thus, to calculate the present value of 1000 dollars expected in 5 years, multiply 1000 by the PVIF of 0.7835. The calculation would be 1000 × 0.7835, equating to approximately 783.5 dollars.

This example demonstrates the practical application of the PVIF. It is a valuable tool for understanding the value of future monetary amounts in today’s terms, an essential aspect of financial planning and decision-making.