Free online Time Value of Money (TVM) calculator. Solve for Present Value, Future Value, Payment, Interest Rate, or Number of Periods. Perfect for investment analysis, loan calculations, and retirement planning. All calculations run locally in your browser. | No Sign-Up · Your Data Never Leaves Your Device
Zero Dependencies · Works Offline🔢 TVM Calculator
📖 How to Use
Step 1: Choose Variable to Solve
Select which variable you want to solve for from the dropdown. The corresponding input will be disabled — you need to fill in the other four.
Step 2: Enter Known Values
- PV (Present Value): Current principal or investment amount. Positive for investment, negative for loan.
- FV (Future Value): Target future amount. Set to 0 for fully paid-off loans.
- PMT (Payment): Fixed payment per period. Negative for payments out, positive for income.
- Annual Rate: Interest rate as a percentage. Automatically converted to per-period rate based on period type.
- NPER: Total number of periods. E.g., 5 years monthly = 60 periods.
Step 3: Common Use Cases
- Loan Payment (Solve PMT): Enter loan amount as PV, rate, NPER, FV=0 → monthly payment
- Investment Growth (Solve FV): Enter current investment (PV), monthly deposit (PMT), rate, NPER → final amount
- Goal Planning (Solve NPER): Enter target (FV), current (PV), monthly saving (PMT), rate → months needed
💡 Core TVM Formula
PV × (1+r)^n + PMT × [(1+r)^n - 1]/r + FV = 0
Where r = per-period interest rate, n = number of periods. Given any four variables, the fifth can be solved. This is the core function of financial calculators like the BA II Plus and essential for CFA/CFP exams.
❓ FAQ
What is Time Value of Money (TVM)?
Time Value of Money is a core financial concept: a dollar today is worth more than a dollar tomorrow because today's money can be invested to earn returns. The TVM calculator helps you compute the relationship between Present Value (PV), Future Value (FV), Payment (PMT), interest rate, and number of periods.
What do PV, FV, and PMT stand for?
PV (Present Value): the current value of future cash flows. FV (Future Value): the future value of a current investment. PMT (Payment): the fixed payment per period. Together with rate and NPER, these five variables form the TVM framework.
How do I calculate loan payments with TVM?
Enter the loan amount as PV (positive), monthly interest rate (annual rate ÷ 12), number of months as NPER, set FV=0, and select 'Solve for PMT'. The result is your monthly payment. Example: $300,000 loan at 4.5% for 30 years (360 months) = ~$1,520/month.
What's the difference between annuity due and ordinary annuity?
Annuity Due: payments occur at the beginning of each period (e.g., rent, insurance). Ordinary Annuity: payments at the end of each period (e.g., loan payments, salaries). With the same parameters, annuity due produces higher FV and PV. This calculator uses ordinary annuity (end-of-period) by default.