Financial Management: Core Concepts, Third Edition

Appendix 4 Present Value Interest Factors of an Annuity

$$PVIFA=\frac{1-\left[1/{\left(1+r\right)}^n\right]}{r}$$

(where r is the periodic interest rate and n is the number of periods)

n\r	0.005	0.01	0.015	0.02	0.03	0.04	0.05	0.06
1	0.9950	0.9901	0.9852	0.9804	0.9709	0.9615	0.9524	0.9434
2	1.9851	1.9704	1.9559	1.9416	1.9135	1.8861	1.8594	1.8334
3	2.9702	2.9410	2.9122	2.8839	2.8286	2.7751	2.7232	2.6730
4	3.9505	3.9020	3.8544	3.8077	3.7171	3.6299	3.5460	3.4651
5	4.9259	4.8534	4.7826	4.7135	4.5797	4.4518	4.3295	4.2124
6	5.8964	5.7955	5.6972	5.6014	5.4172	5.2421	5.0757	4.9173
7	6.8621	6.7282	6.5982	6.4720	6.2303	6.0021	5.7864	5.5824
8	7.8230	7.6517 ...