# Manuals/calci/PVIFA

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**PVIFA (Rate,NumberOfPayments)**

where

- is the rate of interest.
- is the number of installments.
- PVIFA() shows the Present Value Interest Factor of Annuity.

## Description

PVIFA(Rate,NumberOfPayments)

- is the rate of intesrest.
- is the number of installments.
- The present value interest factor of annuity (PVIFA) is a factor which can be used to calculate the present value of a series of annuities.
- The initial deposit earns interest at the periodic rate (r), which perfectly finances a series of (N) consecutive dollar withdrawals and may be written as the following formula:

.

- PVIFA is also a variable used when calculating the present value of an ordinary annuity.

## Examples

- PVIFA(2%,3) = 2.883883272647779
- PVIFA(13%,20) = 7.024751578064005
- PVIFA(15%,30) = 6.565979636707436
- PVIFA(20%,50) = 4.999450575904414