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Quickly calculate the present value and future value of ordinary annuities, annuities due, and perpetuities, with synchronized output of annuity present value factors and future value factors to support pension, loan, and investment analysis.
Most common — payments at period end, e.g. monthly mortgage
Select annuity type and enter payment to calculate
Overview
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Present value expresses a series of future payments as an equivalent amount at the valuation date under a chosen periodic discount rate. This calculator takes a payment amount, a rate per period, and (for finite series) the number of periods. It supports an ordinary annuity, an annuity due, and a perpetuity. It calculates present value, and for finite annuities also future value and annuity factors.
Timing changes the result. An ordinary annuity pays at each period’s end; an annuity due pays at each period’s beginning. For the same positive rate and payment stream, the due value shifts each payment one period earlier. The University of Tennessee’s finance notes describe the distinction and the (1+i) adjustment. Review the university’s annuity formulas.
Guide
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Select ordinary annuity, annuity due, or perpetuity.
Enter the payment per period and the discount rate for that same period. For a finite annuity, enter the number of payment periods. The amount field is denominated in dollars in the English interface.
Review present value, future value when available, and the PV/FV annuity factors. Clear the fields to start another calculation.
For example, a monthly payment stream requires a monthly rate and a count of monthly periods. Convert annual assumptions to a consistent periodic basis before using the result.
Use cases
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The tool takes the payment as an input. It does not solve for a loan payment or produce an insurer’s annuity contract quote.
Q&A
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An ordinary annuity assumes payments at each period end. An annuity due assumes payments at each period beginning, so each payment is discounted for one fewer period; the finite-series result is the ordinary result multiplied by (1+i).
It is the rate for one payment interval, entered as a percentage. Match it to the payment schedule and period count; a nominal annual rate is not automatically converted for monthly payments.
A perpetuity represents a level stream that continues indefinitely. The calculator uses PV = payment ÷ periodic rate and requires a positive rate; it does not display a finite-series future value.
Notes
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This is a mathematical estimate for level payments and one fixed rate per period. It does not model taxes, fees, inflation, changing payments or rates, payment delays, contract terms, or market risk. The result depends on the timing convention and a correctly matched periodic rate. It is not a personal financial recommendation, investment valuation, loan quote, or insurance quote.
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