Time Value of Money

Page 1

TABLE 4
Present Value Of Annuity Factors (Ordinary Annuity)

Periods
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50

1%

2%

3%

4%

5%

6%

7%

.9901
1.9704
2.9410
3.9020
4.8534
5.7955
6.7282
7.6517
8.5660
9.4713
10.3676
11.2551
12.1337
13.0037
13.8651
14.7179
15.5623
16.3983
17.2260
18.0456
18.8570
19.6604
20.4558
21.2434
22.0232
22.7952
23.5596
24.3164
25.0658
25.8077
26.5423
27.2696
27.9897
28.7027
29.4086
30.1075
30.7995
31.4847
32.1630
32.8347
33.4997
34.1581
34.8100
35.4555
36.0945
36.7272
37.3537
37.9740
38.5881
39.1961

.9804
1.9416
2.8839
3.8077
4.7135
5.6014
6.4720
7.3255
8.1622
8.9826
9.7868
10.5753
11.3484
12.1062
12.8493
13.5777
14.2919
14.9920
15.6785
16.3514
17.0112
17.6580
18.2922
18.9139
19.5235
20.1210
20.7069
21.2813
21.8444
22.3965
22.9377
23.4683
23.9886
24.4986
24.9986
25.4888
25.9695
26.4406
26.9026
27.3555
27.7995
28.2348
28.6616
29.0800
29.4902
29.8923
30.2866
30.6731
31.0521
31.4236

.9709
1.9135
2.8286
3.7171
4.5797
5.4172
6.2303
7.0197
7.7861
8.5302
9.2526
9.9540
10.6350
11.2961
11.9379
12.5611
13.1661
13.7535
14.3238
14.8775
15.4150
15.9369
16.4436
16.9355
17.4131
17.8768
18.3270
18.7641
19.1885
19.6004
20.0004
20.3888
20.7658
21.1318
21.4872
21.8323
22.1672
22.4925
22.8082
23.1148
23.4124
23.7014
23.9819
24.2543
24.5187
24.7754
25.0247
25.2667
25.5017
25.7298

.9615
1.8861
2.7751
3.6299
4.4518
5.2421
6.0021
6.7327
7.4353
8.1109
8.7605
9.3851
9.9856
10.5631
11.1184
11.6523
12.1657
12.6593
13.1339
13.5903
14.0292
14.4511
14.8568
15.2470
15.6221
15.9828
16.3296
16.6631
16.9837
17.2920
17.5885
17.8736
18.1476
18.4112
18.6646
18.9083
19.1426
19.3679
19.5845
19.7928
19.9931
20.1856
20.3708
20.5488
20.7200
20.8847
21.0429
21.1951
21.3415
21.4822

.9524
1.8594
2.7232
3.5460
4.3295
5.0757
5.7864
6.4632
7.1078
7.7217
8.3064
8.8633
9.3936
9.8986
10.3797
10.8378
11.2741
11.6896
12.0853
12.4622
12.8212
13.1630
13.4886
13.7986
14.0939
14.3752
14.6430
14.8981
15.1411
15.3725
15.5928
15.8027
16.0025
16.1929
16.3742
16.5469
16.7113
16.8679
17.0170
17.1591
17.2944
17.4232
17.5459
17.6628
17.7741
17.8801
17.9810
18.0772
18.1687
18.2559

.9434
1.8334
2.6730
3.4651
4.2124
4.9173
5.5824
6.2098
6.8017
7.3601
7.8869
8.3838
8.8527
9.2950
9.7122
10.1059
10.4773
10.8276
11.1581
11.4699
11.7641
12.0416
12.3034
12.5504
12.7834
13.0032
13.2105
13.4062
13.5907
13.7648
13.9291
14.0840
14.2302
14.3681
14.4982
14.6210
14.7368
14.8460
14.9491
15.0463
15.1380
15.2245
15.3062
15.3832
15.4558
15.5244
15.5890
15.6500
15.7076
15.7619

.9346
1.8080
2.6243
3.3872
4.1002
4.7665
5.3893
5.9713
6.5152
7.0236
7.4987
7.9427
8.3577
8.7455
9.1079
9.4466
9.7632
10.0591
10.3356
10.5940
10.8355
11.0612
11.2722
11.4693
11.6536
11.8258
11.9867
12.1371
12.2777
12.4090
12.5318
12.6466
12.7538
12.8540
12.9477
13.0352
13.1170
13.1935
13.2649
13.3317
13.3941
13.4524
13.5070
13.5579
13.6055
13.6500
13.6916
13.7305
13.7668
13.8007

Time Value of Money

Page 2

TABLE 4
Present Value Of Annuity Factors (Ordinary Annuity)

Periods
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50

8%

9%

10%

11%

12%

13%

14%

.9259
1.7833
2.5771
3.3121
3.9927
4.6229
5.2064
5.7466
6.2469
6.7101
7.1390
7.5361
7.9038
8.2442
8.5595
8.8514
9.1216
9.3719
9.6036
9.8181
10.0168
10.2007
10.3711
10.5288
10.6748
10.8100
10.9352
11.0511
11.1584
11.2578
11.3498
11.4350
11.5139
11.5869
11.6546
11.7172
11.7752
11.8289
11.8786
11.9246
11.9672
12.0067
12.0432
12.0771
12.1084
12.1374
12.1643
12.1891
12.2122
12.2335

.9174
1.7591
2.5313
3.2397
3.8897
4.4859
5.0330
5.5348
5.9952
6.4177
6.8052
7.1607
7.4869
7.7862
8.0607
8.3126
8.5436
8.7556
8.9501
9.1285
9.2922
9.4424
9.5802
9.7066
9.8226
9.9290
10.0266
10.1161
10.1983
10.2737
10.3428
10.4062
10.4644
10.5178
10.5668
10.6118
10.6530
10.6908
10.7255
10.7574
10.7866
10.8134
10.8380
10.8605
10.8812
10.9002
10.9176
10.9336
10.9482
10.9617

.9091
1.7355
2.4869
3.1699
3.7908
4.3553
4.8684
5.3349
5.7590
6.1446
6.4951
6.8137
7.1034
7.3667
7.6061
7.8237
8.0216
8.2014
8.3649
8.5136
8.6487
8.7715
8.8832
8.9847
8.0770
9.1609
9.2372
9.3066
9.3696
9.4269
9.4790
9.5264
9.5694
9.6086
9.6442
9.6765
9.7059
9.7327
9.7570
9.7791
9.7991
9.8174
9.8340
9.8491
9.8628
9.8753
9.8&66
9.8969
9.9063
9.9148

.9009
1.7125
2.4437
3.1024
3.6959
4.2305
4.7122
5.1461
5.5370
5.8892
6.2065
6.4924
6.7499
6.9819
7.1909
7.3792
7.5488
7.7016
7.8393
7.9633
8.0751
8.1757
8.2664
8.3481
8.4217
8.4881
8.5478
8.6016
8.6501
8.6938
8.7331
8.7686
8.8005
8.8293
8.8552
8.8786
8.8996
8.9186
8.9357
8.9511
8.9649
8.9774
8.9886
8.9988
9.0079
9.0161
9.0235
9.0302
9.0362
9.0417

.8929
1.6901
2.4018
3.0373
3.6048
4.1114
4.5638
4.9676
5.3283
5.6502
5.9377
6.1944
6.4235
6.6282
6.8109
6.9740
7.1196
7.2497
7.3658
7.4694
7.5620
7.6446
7.7184
7.7843
7.8431
7.8957
7.9426
7.9844
8.0218
8.0552
8.0850
8.1116
8.1354
8.1566
8.1755
8.1924
8.2075
8.2210
8.2330
8.2438
8.2534
8.2619
8.2696
8.2764
8.2825
8.2880
8.2928
8.2972
8.3010
8.3045

.8850
1.6681
2.3612
2.9745
3.5172
3.9976
4.4226
4.7988
5.1317
5.4262
5.6869
5.9176
6.1218
6.3025
6.4624
6.6039
6.7291
6.8399
6.9380
7.0248
7.1016
7.1695
7.2297
7.2829
7.3300
7.3717
7.4086
7.4412
7.4701
7.4957
7.5183
7.5383
7.5560
7.5717
7.5856
7.5979
7.6087
7.6183
7.6268
7.6344
7.6410
7.6469
7.6522
7.6568
7.6609
7.6645
7.6677
7.6705
7.6730
7.6752

.8772
1.6467
2.3216
2.9137
3.4331
3.8887
4.2883
4.6389
4.9464
5.2161
5.4527
5.6603
5.8424
6.0021
6.1422
6.2651
6.3729
6.4674
6.5504
6.6231
6.6870
6.7429
6.7921
6.8351
6.8729
6.9061
6.9352
6.9607
6.9830
7.0027
7.0199
7.0350
7.0482
7.0599
7.0700
7.0790
7.0868
7.0937
7.0997
7.1050
7.1097
7.1138
7.1173
7.1205
7.1232
7.1256
7.1277
7.1296
7.1312
7.1327

Time Value of Money

Page 3

TABLE 4
Present Value Of Annuity Factors (Ordinary Annuity)

Periods
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50

15%

16%

17%

18%

19%

.8696
1.6257
2.2832
2.8550
3.3522
3.7845
4.1604
4.4873
4.7716
5.0188
5.2337
5.4206
5.5831
5.7245
5.8474
5.9542
6.0472
6.1280
6.1982
6.2593
6.3125
6.3587
6.3988
6.4338
6.4641
6.4906
6.5135
6.5335
6.5509
6.5660
6.5791
6.5905
6.6005
6.6091
6.6166
6.6231
6.6288
6.6338
6.6380
6.6418
6.6450
6.6478
6.6503
6.6524
6.6543
6.6559
6.6573
6.6585
6.6596
6.6605

.8621
1.6052
2.2459
2.7982
3.2743
3.6847
4.0386
4.3436
4.6065
4.8332
5.0286
5.1971
5.3423
5.4675
5.5755
5.6685
5.7487
5.8178
5.8775
5.9288
5.9731
6.0113
6.0442
6.0726
6.0971
6.1182
6.1364
6.1520
6.1656
6.1772
6.1872
6.1959
6.2034
6.2098
6.2153
6.2201
6.2242
6.2278
6.2309
6.2335
6.2358
6.2377
6.2394
6.2409
6.2421
6.2432
6.2442
6.2450
6.2457
6.2463

.8547
1.5852
2.2096
2.7432
3.1993
3.5892
3.9224
4.2072
4.4506
4.6586
4.8364
4.9884
5.1183
5.2293
5.3242
5.4053
5.4746
5.5339
5.5845
5.6278
5.6648
5.6964
5.7234
5.7465
5.7662
5.7831
5.7975
5.8099
5.8204
5.8294
5.8371
5.8437
5.8493
5.8541
5.8582
5.8617
5.8647
5.8673
5.8695
5.8713
5.8729
5.8743
5.8755
5.8765
5.8773
5.8781
5.8787
5.8792
5.8797
5.8801

.8475
1.5656
2.1743
2.6901
3.1272
3.4976
3.8115
4.0776
4.3030
4.4941
4.6560
4.7932
4.9095
5.0081
5.0916
5.1624
5.2223
5.2732
5.3162
5.3527
5.3837
5.4099
5.4321
5.4509
5.4669
5.4804
5.4919
5.5016
5.5098
5.5168
5.5227
5.5277
5.5320
5.5356
5.5386
5.5412
5.5434
5.5452
5.5468
5.5482
5.5493
5.5502
5.5510
5.5517
5.5523
5.5528
5.5532
5.5536
5.5539
5.5541

.8403
1.5465
2.1399
2.6386
3.0576
3.4098
3.7057
3.9544
4.1633
4.3389
4.4865
4.6105
4.7147
4.8023
4.8759
4.9377
4.9897
5.0333
5.0700
5.1009
5.1268
5.1486
5.1668
5.1822
5.1951
5.2060
5.2151
5.2228
5.2292
5.2347
5.2392
5.2430
5.2462
5.2489
5.2512
5.2531
5.2547
5.2561
5.2572
5.2582
5.2590
5.2596
5.2602
5.2607
5.2611
5.2614
5.2617
5.2619
5.2621
5.2623