Present Value and Future Value Tables

Table A-1 Future Value Interest Factors for One Dollar Compounded at k Percent for n Periods: FVIF k,n = (1 + k) n

Perio 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 20% 24% 25% 30%
d

1 1.010 1.020 1.030 1.040 1.050 1.060 1.070 1.080 1.090 1.100 1.110 1.120 1.130 1.140 1.150 1.160 1.200 1.240 1.250 1.300
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

2 1.020 1.040 1.060 1.081 1.102 1.123 1.144 1.166 1.188 1.210 1.232 1.254 1.276 1.299 1.322 1.345 1.440 1.537 1.562 1.690
1 4 9 6 5 6 9 4 1 0 1 4 9 6 5 6 0 6 5 0

3 1.030 1.061 1.092 1.124 1.157 1.191 1.225 1.259 1.295 1.331 1.367 1.404 1.442 1.481 1.520 1.560 1.728 1.906 1.953 2.197
3 2 7 9 6 0 0 7 0 0 6 9 9 5 9 9 0 6 1 0

4 1.040 1.082 1.125 1.169 1.215 1.262 1.310 1.360 1.411 1.464 1.518 1.573 1.630 1.689 1.749 1.810 2.073 2.364 2.441 2.856
6 4 5 9 5 5 8 5 6 1 1 5 5 0 0 6 6 2 4 1

5 1.051 1.104 1.159 1.216 1.276 1.338 1.402 1.469 1.538 1.610 1.685 1.762 1.842 1.925 2.011 2.100 2.488 2.931 3.051 3.712
0 1 3 7 3 2 6 3 6 5 1 3 4 4 4 3 3 6 8 9

6 1.061 1.126 1.194 1.265 1.340 1.418 1.500 1.586 1.677 1.771 1.870 1.973 2.082 2.195 2.313 2.436 2.986 3.635 3.814 4.826
5 2 1 3 1 5 7 9 1 6 4 8 0 0 1 4 0 2 7 8

7 1.072 1.148 1.229 1.315 1.407 1.503 1.605 1.713 1.828 1.948 2.076 2.210 2.352 2.502 2.660 2.826 3.583 4.507 4.768 6.274
1 7 9 9 1 6 8 8 0 7 2 7 6 3 0 2 2 7 4 9

8 1.082 1.171 1.266 1.368 1.477 1.593 1.718 1.850 1.992 2.143 2.304 2.476 2.658 2.852 3.059 3.278 4.299 5.589 5.960 8.157
9 7 8 6 5 8 2 9 6 6 5 0 4 6 0 4 8 5 5 3

9 1.093 1.195 1.304 1.423 1.551 1.689 1.838 1.999 2.171 2.357 2.558 2.773 3.004 3.251 3.517 3.803 5.159 6.931 7.450 10.60
7 1 8 3 3 5 5 0 9 9 0 1 0 9 9 0 8 0 6 4

10 1.104 1.219 1.343 1.480 1.628 1.790 1.967 2.158 2.367 2.593 2.839 3.105 3.394 3.707 4.045 4.411 6.191 8.594 9.313 13.78
6 0 9 2 9 8 2 9 4 7 4 8 6 2 6 4 7 4 2 6

11 1.115 1.243 1.384 1.539 1.710 1.898 2.104 2.331 2.580 2.853 3.151 3.478 3.835 4.226 4.652 5.117 7.430 10.65 11.64 17.92
7 4 2 5 3 3 9 6 4 1 8 5 9 2 4 3 1 7 2 2

12 1.126 1.268 1.425 1.601 1.795 2.012 2.252 2.518 2.812 3.138 3.498 3.896 4.334 4.817 5.350 5.936 8.916 13.21 14.55 23.29
8 2 8 0 9 2 2 2 7 4 5 0 5 9 3 0 1 5 2 8

13 1.138 1.293 1.468 1.665 1.885 2.132 2.409 2.719 3.065 3.452 3.883 4.363 4.898 5.492 6.152 6.885 10.69 16.38 18.19 30.28
1 6 5 1 6 9 8 6 8 3 3 5 0 4 8 8 9 6 0 8

14 1.149 1.319 1.512 1.731 1.979 2.260 2.578 2.937 3.341 3.797 4.310 4.887 5.534 6.261 7.075 7.987 12.83 20.31 22.73 39.37
5 5 6 7 9 9 5 2 7 5 4 1 8 3 7 5 9 9 7 4

15 1.161 1.345 1.558 1.800 2.078 2.396 2.759 3.172 3.642 4.177 4.784 5.473 6.254 7.137 8.137 9.265 15.40 25.19 28.42 51.18
0 9 0 9 9 6 0 2 5 2 6 6 3 9 1 5 7 6 2 6

16 1.172 1.372 1.604 1.873 2.182 2.540 2.952 3.425 3.970 4.595 5.310 6.130 7.067 8.137 9.357 10.74 18.48 31.24 35.52 66.54
6 8 7 0 9 4 2 9 3 0 9 4 3 2 6 8 8 3 7 2

17 1.184 1.400 1.652 1.947 2.292 2.692 3.158 3.700 4.327 5.054 5.895 6.866 7.986 9.276 10.76 12.46 22.18 38.74 44.40 86.50
3 2 8 9 0 8 8 0 6 5 1 0 1 5 1 8 6 1 9 4

18 1.196 1.428 1.702 2.025 2.406 2.854 3.379 3.996 4.717 5.559 6.543 7.690 9.024 10.57 12.37 14.46 26.62 48.03 55.51 112.4
1 2 4 8 6 3 9 0 1 9 6 0 3 5 5 3 3 9 1 55

19 1.208 1.456 1.753 2.106 2.527 3.025 3.616 4.315 5.141 6.115 7.263 8.612 10.19 12.05 14.23 16.77 31.94 59.56 69.38 146.1
1 8 5 8 0 6 5 7 7 9 3 8 7 6 2 7 8 8 9 92

20 1.220 1.485 1.806 2.191 2.653 3.207 3.869 4.661 5.604 6.727 8.062 9.646 11.52 13.74 16.36 19.46 38.33 73.86 86.73 190.0
2 9 1 1 3 1 7 0 4 5 3 3 3 3 7 1 8 4 6 50

21 1.232 1.515 1.860 2.278 2.786 3.399 4.140 5.033 6.108 7.400 8.949 10.80 13.02 15.66 18.82 22.57 46.00 91.59 108.4 247.0
4 7 3 8 0 6 6 8 8 2 2 4 1 8 2 4 5 2 20 65

22 1.244 1.546 1.916 2.369 2.925 3.603 4.430 5.436 6.658 8.140 9.933 12.10 14.71 17.86 21.64 26.18 55.20 113.5 135.5 321.1
7 0 1 9 3 5 4 5 6 3 6 0 4 1 5 6 6 74 25 84

23 1.257 1.576 1.973 2.464 3.071 3.819 4.740 5.871 7.257 8.954 11.02 13.55 16.62 20.36 24.89 30.37 66.24 140.8 169.4 417.5
2 9 6 7 5 7 5 5 9 3 6 2 7 2 1 6 7 31 07 39

24 1.269 1.608 2.032 2.563 3.225 4.048 5.072 6.341 7.911 9.849 12.23 15.17 18.78 23.21 28.62 35.23 79.49 174.6 211.7 542.8
 7 4 8 3 1 9 4 2 1 7 9 9 8 2 5 6 7 31 58 01

25 1.282 1.640 2.093 2.665 3.386 4.291 5.427 6.848 8.623 10.83 13.58 17.00 21.23 26.46 32.91 40.87 95.39 216.5 264.6 705.6
4 6 8 8 4 9 4 5 1 5 5 0 1 2 9 4 6 42 98 41

30 1.347 1.811 2.427 3.243 4.321 5.743 7.612 10.06 13.26 17.44 22.89 29.96 39.11 50.95 66.21 85.85 237.3 634.8 807.7 *
8 4 3 4 9 5 3 3 8 9 2 0 6 0 2 0 76 20 94

35 1.416 1.999 2.813 3.946 5.516 7.686 10.67 14.78 20.41 28.10 38.57 52.80 72.06 98.10 133.1 180.3 590.6 * * *
6 9 9 1 0 1 7 5 4 2 5 0 9 0 76 14 68

36 1.430 2.039 2.898 4.103 5.791 8.147 11.42 15.96 22.25 30.91 42.81 59.13 81.43 111.8 153.1 209.1 708.8 * * *
8 9 3 9 8 3 4 8 1 3 8 6 7 34 52 64 02

40 1.488 2.208 3.262 4.801 7.040 10.28 14.97 21.72 31.40 45.25 65.00 93.05 132.7 188.8 267.8 378.7 * * * *
9 0 0 0 0 6 4 5 9 9 1 1 82 84 64 21

50 1.644 2.691 4.383 7.106 11.46 18.42 29.45 46.90 74.35 117.3 184.5 289.0 450.7 700.2 * * * * * *
6 6 9 7 7 0 7 2 8 91 65 02 36 33

Table A-2 Future Value Interest Factors for a One-Dollar Annuity Compouned at k Percent for n Periods: FVIFA k,n = [(1 + k) n- 1 ] / k

Perio 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 20% 24% 25% 30%
d

1 1.000 1.020 1.030 1.040 1.050 1.060 1.070 1.080 1.090 1.100 1.110 1.120 1.130 1.140 1.150 1.160 1.200 1.240 1.250 1.300
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

2 2.010 2.020 2.030 2.040 2.050 2.060 2.070 2.080 2.090 2.100 2.110 2.120 2.130 2.140 2.150 2.160 2.200 2.240 2.250 2.300
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

3 3.030 3.060 3.090 3.121 3.152 3.183 3.214 3.246 3.278 3.310 3.342 3.374 3.406 3.439 3.472 3.505 3.640 3.777 3.812 3.990
1 4 9 6 5 6 9 4 1 0 1 4 9 6 5 6 0 6 5 0

4 4.060 4.121 4.183 4.246 4.310 4.374 4.439 4.506 4.573 4.641 4.709 4.779 4.849 4.921 4.993 5.066 5.368 5.684 5.765 6.187
4 6 6 5 1 6 9 1 1 0 7 3 8 1 4 5 0 2 6 0

5 5.101 5.204 5.309 5.416 5.525 5.637 5.750 5.866 5.984 6.105 6.227 6.352 6.480 6.610 6.742 6.877 7.441 8.048 8.207 9.043
0 0 1 3 6 1 7 6 7 1 8 8 3 1 4 1 6 4 0 1

6 6.152 6.308 6.468 6.633 6.801 6.975 7.153 7.335 7.523 7.715 7.912 8.115 8.322 8.535 8.753 8.977 9.929 10.98 11.25 12.75
0 1 4 0 9 3 3 9 3 6 9 2 7 5 7 5 9 0 9 6

7 7.213 7.434 7.662 7.898 8.142 8.393 8.654 8.922 9.200 9.487 9.783 10.08 10.40 10.73 11.06 11.41 12.91 14.61 15.07 17.58
5 3 5 3 0 8 0 8 4 2 3 9 5 0 7 4 6 5 3 3

8 8.285 8.583 8.892 9.214 9.549 9.897 10.26 10.63 11.02 11.43 11.85 12.30 12.75 13.23 13.72 14.24 16.49 19.12 19.84 23.85
7 0 3 2 1 5 0 7 8 6 9 0 7 3 7 0 9 3 2 8

9 9.368 9.754 10.15 10.58 11.02 11.49 11.97 12.48 13.02 13.57 14.16 14.77 15.41 16.08 16.78 17.51 20.79 24.71 25.80 32.01
5 6 9 3 7 1 8 8 1 9 4 6 6 5 6 9 9 2 2 5

10 10.46 10.95 11.46 12.00 12.57 13.18 13.81 14.48 15.19 15.93 16.72 17.54 18.42 19.33 20.30 21.32 25.95 31.64 33.25 42.61
2 0 4 6 8 1 6 7 3 7 2 9 0 7 4 1 9 3 3 9

11 11.56 12.16 12.80 13.48 14.20 14.97 15.78 16.64 17.56 18.53 19.56 20.65 21.81 23.04 24.34 25.73 32.15 40.23 42.56 56.40
7 9 8 6 7 2 4 5 0 1 1 5 4 5 9 3 0 8 6 5

12 12.68 13.41 14.19 15.02 15.91 16.87 17.88 18.97 20.14 21.38 22.71 24.13 25.65 27.27 29.00 30.85 39.58 50.89 54.20 74.32
3 2 2 6 7 0 8 7 1 4 3 3 0 1 2 0 1 5 8 7

13 13.80 14.68 15.61 16.62 17.71 18.88 20.14 21.49 22.95 24.52 26.21 28.02 29.98 32.08 34.35 36.78 48.49 64.11 68.76 97.62
9 0 8 7 3 2 1 5 3 3 2 9 5 9 2 6 7 0 0 5

14 14.94 15.97 17.08 18.29 19.59 21.01 22.55 24.21 26.01 27.97 30.09 32.39 34.88 37.58 40.50 43.67 59.19 80.49 86.94 127.9
7 4 6 2 9 5 0 5 9 5 5 3 3 1 5 2 6 6 9 13

15 16.09 17.29 18.59 20.02 21.57 23.27 25.12 27.15 29.36 31.77 34.40 37.28 40.41 43.84 47.58 51.66 72.03 100.8 109.6 167.2
7 3 9 4 9 6 9 2 1 2 5 0 7 2 0 0 5 15 87 86

16 17.25 18.63 20.15 21.82 23.65 25.67 27.88 30.32 33.00 35.95 39.19 42.75 46.67 50.98 55.71 60.92 87.44 126.0 138.1 218.4
8 9 7 5 7 3 8 4 3 0 0 3 2 0 7 5 2 11 09 72

17 18.43 20.01 21.76 23.69 25.84 28.21 30.84 33.75 36.97 40.54 44.50 48.88 53.73 59.11 65.07 71.67 105.9 157.2 173.6 285.0
 0 2 2 8 0 3 0 0 4 5 1 4 9 8 5 3 31 53 36 14

18 19.61 21.41 23.41 25.64 28.13 30.90 33.99 37.45 41.30 45.59 50.39 55.75 61.72 68.39 75.83 84.14 128.1 195.9 218.0 371.5
5 2 4 5 2 6 9 0 1 9 6 0 5 4 6 1 17 94 45 18

19 20.81 22.84 25.11 27.67 30.53 33.76 37.37 41.44 46.01 51.15 56.93 63.44 70.74 78.96 88.21 98.60 154.7 244.0 273.5 483.9
1 1 7 1 9 0 9 6 8 9 9 0 9 9 2 3 40 33 56 73

20 22.01 24.29 26.87 29.77 33.06 36.78 40.99 45.76 51.16 57.27 64.20 72.05 80.94 91.02 102.4 115.3 186.6 303.6 342.9 630.1
9 7 0 8 6 6 5 2 0 5 3 2 7 5 44 80 88 01 45 65

21 23.23 25.78 28.67 31.96 35.71 39.99 44.86 50.42 56.76 64.00 72.26 81.69 92.47 104.7 118.8 134.8 225.0 377.4 429.6 820.2
9 3 6 9 9 3 5 3 5 2 5 9 0 68 10 41 26 65 81 15

22 24.47 27.29 30.53 34.24 38.50 43.39 49.00 55.45 62.87 71.40 81.21 92.50 105.4 120.4 137.6 157.4 271.0 469.0 538.1 *
2 9 7 8 5 2 6 7 3 3 4 3 91 36 32 15 31 56 01

23 25.71 28.84 32.45 36.61 41.43 46.99 53.43 60.89 69.53 79.54 91.14 104.6 120.2 138.2 159.2 183.6 326.2 582.6 673.6 *
6 5 3 8 0 6 6 3 2 3 8 03 05 97 76 01 37 30 26

24 26.97 30.42 34.42 39.08 44.50 50.81 58.17 66.76 76.79 88.49 102.1 118.1 136.8 158.6 184.1 213.9 392.4 723.4 843.0 *
3 2 6 3 2 6 7 5 0 7 74 55 31 59 68 78 84 61 33

25 28.24 32.03 36.45 41.64 47.72 54.86 63.24 73.10 84.70 98.34 114.4 133.3 155.6 181.8 212.7 249.2 471.9 898.0 * *
3 0 9 6 7 5 9 6 1 7 13 34 20 71 93 14 81 92

30 34.78 40.56 47.57 56.08 66.43 79.05 94.46 113.2 136.3 164.4 199.0 241.3 293.1 356.7 434.7 530.3 * * * *
5 8 5 5 9 8 1 83 08 94 21 33 99 87 45 12

35 41.66 49.99 60.46 73.65 90.32 111.4 138.2 172.3 215.7 271.0 341.5 431.6 546.6 693.5 881.1 * * * * *
0 4 2 2 0 35 37 17 11 24 90 63 81 73 70

36 43.07 51.99 63.27 77.59 95.83 119.1 148.9 187.1 236.1 299.1 380.1 484.4 618.7 791.6 * * * * * *
7 4 6 8 6 21 13 02 25 27 64 63 49 73

40 48.88 60.40 75.40 95.02 120.8 154.7 199.6 259.0 337.8 442.5 581.8 767.0 * * * * * * * *
6 2 1 6 00 62 35 57 82 93 26 91

50 64.46 84.57 112.7 152.6 209.3 290.3 406.5 573.7 815.0 * * * * * * * * * * *

3 9 97 67 48 36 29 70 84

Present Value and Future Value Tables

Table A-3 Present Value Interest Factors for One Dollar Discounted at k Percent for n Periods: PVIF k,n = 1 / (1 + k) n

Perio 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 20% 24% 25% 30%
d

1 0.990 0.980 0.970 0.961 0.952 0.943 0.934 0.925 0.917 0.909 0.900 0.892 0.885 0.877 0.869 0.862 0.833 0.806 0.800 0.769
1 4 9 5 4 4 6 9 4 1 9 9 0 2 6 1 3 5 0 2

2 0.980 0.961 0.942 0.924 0.907 0.890 0.873 0.857 0.841 0.826 0.811 0.797 0.783 0.769 0.756 0.743 0.694 0.650 0.640 0.591
3 2 6 6 0 0 4 3 7 4 6 2 1 5 1 2 4 4 0 7

3 0.970 0.942 0.915 0.889 0.863 0.839 0.816 0.793 0.772 0.751 0.731 0.711 0.693 0.675 0.657 0.640 0.578 0.524 0.512 0.455
6 3 1 0 8 6 3 8 2 3 2 8 1 0 5 7 7 5 0 2

4 0.961 0.923 0.888 0.854 0.822 0.792 0.762 0.735 0.708 0.683 0.658 0.635 0.613 0.592 0.571 0.552 0.482 0.423 0.409 0.350
0 8 5 8 7 1 9 0 4 0 7 5 3 1 8 3 3 0 6 1

5 0.951 0.905 0.862 0.821 0.783 0.747 0.713 0.680 0.649 0.620 0.593 0.567 0.542 0.519 0.497 0.476 0.401 0.341 0.327 0.269
5 7 6 9 5 3 0 6 9 9 5 4 8 4 2 1 9 1 7 3

6 0.942 0.888 0.837 0.790 0.746 0.705 0.666 0.630 0.596 0.564 0.534 0.506 0.480 0.455 0.432 0.410 0.334 0.275 0.262 0.207
0 0 5 3 2 0 3 2 3 5 6 6 3 6 3 4 9 1 1 2

7 0.932 0.870 0.813 0.759 0.710 0.665 0.622 0.583 0.547 0.513 0.481 0.452 0.425 0.399 0.375 0.353 0.279 0.221 0.209 0.159
7 6 1 9 7 1 7 5 0 2 7 3 1 6 9 8 1 8 7 4

8 0.923 0.853 0.789 0.730 0.676 0.627 0.582 0.540 0.501 0.466 0.433 0.403 0.376 0.350 0.326 0.305 0.232 0.178 0.167 0.122
5 5 4 7 8 4 0 3 9 5 9 9 2 6 9 0 6 9 8 6

9 0.914 0.836 0.766 0.702 0.644 0.591 0.543 0.500 0.460 0.424 0.390 0.360 0.332 0.307 0.284 0.263 0.193 0.144 0.134 0.094
3 8 4 6 6 9 9 2 4 1 9 6 9 5 3 0 8 3 2 3
 10 0.905 0.820 0.744 0.675 0.613 0.558 0.508 0.463 0.422 0.385 0.352 0.322 0.294 0.269 0.247 0.226 0.161 0.116 0.107 0.072
3 3 1 6 9 4 3 2 4 5 2 0 6 7 2 7 5 4 4 5

11 0.896 0.804 0.722 0.649 0.584 0.526 0.475 0.428 0.387 0.350 0.317 0.287 0.260 0.236 0.214 0.195 0.134 0.093 0.085 0.055
3 3 4 6 7 8 1 9 5 5 3 5 7 6 9 4 6 8 9 8

12 0.887 0.788 0.701 0.624 0.556 0.497 0.444 0.397 0.355 0.318 0.285 0.256 0.230 0.207 0.186 0.168 0.112 0.075 0.068 0.042
4 5 4 6 8 0 0 1 5 6 8 7 7 6 9 5 2 7 7 9

13 0.878 0.773 0.681 0.600 0.530 0.468 0.415 0.367 0.326 0.289 0.257 0.229 0.204 0.182 0.162 0.145 0.093 0.061 0.055 0.033
7 0 0 6 3 8 0 7 2 7 5 2 2 1 5 2 5 0 0 0

14 0.870 0.757 0.661 0.577 0.505 0.442 0.387 0.340 0.299 0.263 0.232 0.204 0.180 0.159 0.141 0.125 0.077 0.049 0.044 0.025
0 9 1 5 1 3 8 5 2 3 0 6 7 7 3 2 9 2 0 4

15 0.861 0.743 0.641 0.555 0.481 0.417 0.362 0.315 0.274 0.239 0.209 0.182 0.159 0.140 0.122 0.107 0.064 0.039 0.035 0.019
3 0 9 3 0 3 4 2 5 4 0 7 9 1 9 9 9 7 2 5

16 0.852 0.728 0.623 0.533 0.458 0.393 0.338 0.291 0.251 0.217 0.188 0.163 0.141 0.122 0.106 0.093 0.054 0.032 0.028 0.015
8 4 2 9 1 6 7 9 9 6 3 1 5 9 9 0 1 0 1 0

17 0.844 0.714 0.605 0.513 0.436 0.371 0.316 0.270 0.231 0.197 0.169 0.145 0.125 0.107 0.092 0.080 0.045 0.025 0.022 0.011
4 2 0 4 3 4 6 3 1 8 6 6 2 8 9 2 1 8 5 6

18 0.836 0.700 0.587 0.493 0.415 0.350 0.295 0.250 0.212 0.179 0.152 0.130 0.110 0.094 0.080 0.069 0.037 0.020 0.018 0.008
0 2 4 6 5 3 9 2 0 9 8 0 8 6 8 1 6 8 0 9

19 0.827 0.686 0.570 0.474 0.395 0.330 0.276 0.231 0.194 0.163 0.137 0.116 0.098 0.082 0.070 0.059 0.031 0.016 0.014 0.006
7 4 3 6 7 5 5 7 5 5 7 1 1 9 3 6 3 8 4 8

20 0.819 0.673 0.553 0.456 0.376 0.311 0.258 0.214 0.178 0.148 0.124 0.103 0.086 0.072 0.061 0.051 0.026 0.013 0.011 0.005
5 0 7 4 9 8 4 5 4 6 0 7 8 8 1 4 1 5 5 3

21 0.811 0.659 0.537 0.438 0.358 0.294 0.241 0.198 0.163 0.135 0.111 0.092 0.076 0.063 0.053 0.044 0.021 0.010 0.009 0.004
4 8 5 8 9 2 5 7 7 1 7 6 8 8 1 3 7 9 2 0

22 0.803 0.646 0.521 0.422 0.341 0.277 0.225 0.183 0.150 0.122 0.100 0.082 0.068 0.056 0.046 0.038 0.018 0.008 0.007 0.003
4 8 9 0 8 5 7 9 2 8 7 6 0 0 2 2 1 8 4 1

23 0.795 0.634 0.506 0.405 0.325 0.261 0.210 0.170 0.137 0.111 0.090 0.073 0.060 0.049 0.040 0.032 0.015 0.007 0.005 0.002
4 2 7 7 6 8 9 3 8 7 7 8 1 1 2 9 1 1 9 4

24 0.787 0.621 0.491 0.390 0.310 0.247 0.197 0.157 0.126 0.101 0.081 0.065 0.053 0.043 0.034 0.028 0.012 0.005 0.004 0.001
6 7 9 1 1 0 1 7 4 5 7 9 2 1 9 4 6 7 7 8

25 0.779 0.609 0.477 0.375 0.295 0.233 0.184 0.146 0.116 0.092 0.073 0.058 0.047 0.037 0.030 0.024 0.010 0.004 0.003 0.001
8 5 6 1 3 0 2 0 0 3 6 8 1 8 4 5 5 6 8 4

30 0.741 0.552 0.412 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.043 0.033 0.025 0.019 0.015 0.011 0.004 0.001 0.001 *
9 1 0 3 4 1 4 4 4 3 7 4 6 6 1 6 2 6 2

35 0.705 0.500 0.355 0.253 0.181 0.130 0.093 0.067 0.049 0.035 0.025 0.018 0.013 0.010 0.007 0.005 0.001 0.000 * *
9 0 4 4 3 1 7 6 0 6 9 9 9 2 5 5 7 5

36 0.698 0.490 0.345 0.243 0.172 0.122 0.087 0.062 0.044 0.032 0.023 0.016 0.012 0.008 0.006 0.004 0.001 * * *
9 2 0 7 7 7 5 6 9 3 4 9 3 9 5 8 4

40 0.671 0.452 0.306 0.208 0.142 0.097 0.066 0.046 0.031 0.022 0.015 0.010 0.007 0.005 0.003 0.002 0.000 * * *
7 9 6 3 0 2 8 0 8 1 4 7 5 3 7 6 7

50 0.608 0.371 0.228 0.140 0.087 0.054 0.033 0.021 0.013 0.008 0.005 0.003 0.002 0.001 0.000 0.000 * * * *
0 5 1 7 2 3 9 3 4 5 4 5 2 4 9 6

Table A-4 Present Value Interest Factors for a One-Dollar Annuity Discounted at k Percent for n Periods: PVIFA = [1 - 1/(1 + k) n] / k

Perio 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 20% 24% 25% 30%
d

1 0.990 0.980 0.970 0.961 0.952 0.943 0.934 0.925 0.917 0.909 0.900 0.892 0.885 0.877 0.869 0.862 0.833 0.806 0.800 0.769
1 4 9 5 4 4 6 9 4 1 9 9 0 2 6 1 3 5 0 2

2 1.970 1.941 1.913 1.886 1.859 1.833 1.808 1.783 1.759 1.735 1.712 1.690 1.668 1.646 1.625 1.605 1.527 1.456 1.440 1.360
4 6 5 1 4 4 0 3 1 5 5 1 1 7 7 2 8 8 0 9
3 2.941 2.883 2.828 2.775 2.723 2.673 2.624 2.577 2.531 2.486 2.443 2.401 2.361 2.321 2.283 2.245 2.106 1.981 1.952 1.816
0 9 6 1 2 0 3 1 3 9 7 8 2 6 2 9 5 3 0 1

4 3.902 3.807 3.717 3.629 3.546 3.465 3.387 3.312 3.239 3.169 3.102 3.037 2.974 2.913 2.855 2.798 2.588 2.404 2.361 2.166
0 7 1 9 0 1 2 1 7 9 4 3 5 7 0 2 7 3 6 2

5 4.853 4.713 4.579 4.451 4.329 4.212 4.100 3.992 3.889 3.790 3.695 3.604 3.517 3.433 3.352 3.274 2.990 2.745 2.689 2.435
4 5 7 8 5 4 2 7 7 8 9 8 2 1 2 3 6 4 3 6

6 5.795 5.601 5.417 5.242 5.075 4.917 4.766 4.622 4.485 4.355 4.230 4.111 3.997 3.888 3.784 3.684 3.325 3.020 2.951 2.642
5 4 2 1 7 3 5 9 9 3 5 4 5 7 5 7 5 5 4 7

7 6.728 6.472 6.230 6.002 5.786 5.582 5.389 5.206 5.033 4.868 4.712 4.563 4.422 4.288 4.160 4.038 3.604 3.242 3.161 2.802
2 0 3 1 4 4 3 4 0 4 2 8 6 3 4 6 6 3 1 1

8 7.651 7.325 7.019 6.732 6.463 6.209 5.971 5.746 5.534 5.334 5.146 4.967 4.798 4.638 4.487 4.343 3.837 3.421 3.328 2.924
7 5 7 7 2 8 3 6 8 9 1 6 8 9 3 6 2 2 9 7

9 8.566 8.162 7.786 7.435 7.107 6.801 6.515 6.246 5.995 5.759 5.537 5.328 5.131 4.946 4.771 4.606 4.031 3.565 3.463 3.019
0 2 1 3 8 7 2 9 2 0 0 2 7 4 6 5 0 5 1 0

10 9.471 8.982 8.530 8.110 7.721 7.360 7.023 6.710 6.417 6.144 5.889 5.650 5.426 5.216 5.018 4.833 4.192 3.681 3.570 3.091
3 6 2 9 7 1 6 1 7 6 2 2 2 1 8 2 5 9 5 5

11 10.36 9.786 9.252 8.760 8.306 7.886 7.498 7.139 6.805 6.495 6.206 5.937 5.686 5.452 5.233 5.028 4.327 3.775 3.656 3.147
8 8 6 5 4 9 7 0 2 1 5 7 9 7 7 6 1 7 4 3

12 11.25 10.57 9.954 9.385 8.863 8.383 7.942 7.536 7.160 6.813 6.492 6.194 5.917 5.660 5.420 5.197 4.439 3.851 3.725 3.190
5 5 0 1 3 8 7 1 7 7 4 4 6 3 6 1 2 4 1 3

13 12.13 11.34 10.63 9.985 9.393 8.852 8.357 7.903 7.486 7.103 6.749 6.423 6.121 5.842 5.583 5.342 4.532 3.912 3.780 3.223
4 8 5 6 6 7 7 8 9 4 9 5 8 4 1 3 7 4 1 3

14 13.00 12.10 11.29 10.56 9.898 9.295 8.745 8.244 7.786 7.366 6.981 6.628 6.302 6.002 5.724 5.467 4.610 3.961 3.824 3.248
4 6 6 3 6 0 5 2 2 7 9 2 5 1 5 5 6 6 1 7

15 13.86 12.84 11.93 11.11 10.38 9.712 9.107 8.559 8.060 7.606 7.190 6.810 6.462 6.142 5.847 5.575 4.675 4.001 3.859 3.268
5 9 8 8 0 2 9 5 7 1 9 9 4 2 4 5 5 3 3 2

16 14.71 13.57 12.56 11.65 10.83 10.10 9.446 8.851 8.312 7.823 7.379 6.974 6.603 6.265 5.954 5.668 4.729 4.033 3.887 3.283
8 8 1 2 8 6 6 4 6 7 2 0 9 1 2 5 6 3 4 2

17 15.56 14.29 13.16 12.16 11.27 10.47 9.763 9.121 8.543 8.021 7.548 7.119 6.729 6.372 6.047 5.748 4.774 4.059 3.909 3.294
2 2 6 6 4 7 2 6 6 6 8 6 1 9 2 7 6 1 9 8

18 16.39 14.99 13.75 12.65 11.69 10.82 10.05 9.371 8.755 8.201 7.701 7.249 6.839 6.467 6.128 5.817 4.812 4.079 3.927 3.303
8 2 4 9 0 8 9 9 6 4 6 7 9 4 0 8 2 9 9 7

19 17.22 15.67 14.32 13.13 12.08 11.15 10.33 9.603 8.950 8.364 7.839 7.365 6.938 6.550 6.198 5.877 4.843 4.096 3.942 3.310
6 8 4 4 5 8 6 6 1 9 3 8 0 4 2 5 5 7 4 5

20 18.04 16.35 14.87 13.59 12.46 11.47 10.59 9.818 9.128 8.513 7.963 7.469 7.024 6.623 6.259 5.928 4.869 4.110 3.953 3.315
6 1 7 0 2 0 4 1 5 6 3 4 8 1 3 8 6 3 9 8

21 18.85 17.01 15.41 14.02 12.82 11.76 10.83 10.01 9.292 8.648 8.075 7.562 7.101 6.687 6.312 5.973 4.891 4.121 3.963 3.319
7 1 5 9 1 4 6 7 2 7 1 0 6 0 5 1 3 2 1 8

22 19.66 17.65 15.93 14.45 13.16 12.04 11.06 10.20 9.442 8.771 8.175 7.644 7.169 6.742 6.358 6.011 4.909 4.130 3.970 3.323
0 8 7 1 3 2 1 1 4 5 7 6 5 9 7 3 4 0 5 0

23 20.45 18.29 16.44 14.85 13.48 12.30 11.27 10.37 9.580 8.883 8.266 7.718 7.229 6.792 6.398 6.044 4.924 4.137 3.976 3.325
6 2 4 7 9 3 2 1 2 2 4 4 7 1 8 2 5 1 4 4

24 21.24 18.91 16.93 15.24 13.79 12.55 11.46 10.52 9.706 8.984 8.348 7.784 7.282 6.835 6.433 6.072 4.937 4.142 3.981 3.327
3 4 6 7 9 0 9 9 6 7 1 3 9 1 8 6 1 8 1 2

25 22.02 19.52 17.41 15.62 14.09 12.78 11.65 10.67 9.822 9.077 8.421 7.843 7.330 6.872 6.464 6.097 4.947 4.147 3.984 3.328
3 3 3 2 4 3 4 5 6 0 7 1 0 9 1 1 6 4 9 6

30 25.80 22.39 19.60 17.29 15.37 13.76 12.40 11.25 10.27 9.426 8.693 8.055 7.495 7.002 6.566 6.177 4.978 4.160 3.995 3.332
8 6 0 2 2 5 9 8 4 9 8 2 7 7 0 2 9 1 0 1

35 29.40 24.99 21.48 18.66 16.37 14.49 12.94 11.65 10.56 9.644 8.855 8.175 7.585 7.070 6.616 6.215 4.991 4.164 3.998 3.333
9 9 7 5 4 8 8 5 7 2 2 5 6 0 6 3 5 4 4 0
36 30.10 25.48 21.83 18.90 16.54 14.62 13.03 11.71 10.61 9.676 8.878 8.192 7.597 7.079 6.623 6.220 4.992 4.164 3.998 3.333
8 9 2 8 7 1 5 7 2 5 6 4 9 0 1 1 9 9 7 1

40 32.83 27.35 23.11 19.79 17.15 15.04 13.33 11.92 10.75 9.779 8.951 8.243 7.634 7.105 6.641 6.233 4.996 4.165 3.999 3.333
5 5 5 3 9 6 2 5 7 1 1 8 4 0 8 5 6 9 5 2

50 39.19 31.42 25.73 21.48 18.25 15.76 13.80 12.23 10.96 9.914 9.041 8.304 7.675 7.132 6.660 6.246 4.999 4.166 3.999 3.333
6 4 0 2 6 2 1 3 2 8 7 5 2 7 5 3 5 6 9 3