Table B.3‡Present Value of an Annuity of 1
p = [1 - 1/(1 + i)n]/i
| |
Rate |
| Periods |
1% |
2% |
3% |
4% |
5% |
6% |
7% |
8% |
9% |
10% |
12% |
15% |
Periods |
| 1 |
0.9901 |
0.9804 |
0.9709 |
0.9615 |
0.9524 |
0.9434 |
0.9346 |
0.9259 |
0.9174 |
0.9091 |
0.8929 |
0.8696 |
1 |
| 2 |
1.9704 |
1.9416 |
1.9135 |
1.8861 |
1.8594 |
1.8334 |
1.8080 |
1.7833 |
1.7591 |
1.7355 |
1.6901 |
1.6257 |
2 |
| 3 |
2.9410 |
2.8839 |
2.8286 |
2.7751 |
2.7232 |
2.6730 |
2.6243 |
2.5771 |
2.5313 |
2.4869 |
2.4018 |
2.2832 |
3 |
| 4 |
3.9020 |
3.8077 |
3.7171 |
3.6299 |
3.5460 |
3.4651 |
3.3872 |
3.3121 |
3.2397 |
3.1699 |
3.0373 |
2.8550 |
4 |
| 5 |
4.8534 |
4.7135 |
4.5797 |
4.4518 |
4.3295 |
4.2124 |
4.1002 |
3.9927 |
3.8897 |
3.7908 |
3.6048 |
3.3522 |
5 |
| 6 |
5.7955 |
5.6014 |
5.4172 |
5.2421 |
5.0757 |
4.9173 |
4.7665 |
4.6229 |
4.4859 |
4.3553 |
4.1114 |
3.7845 |
6 |
| 7 |
6.7282 |
6.4720 |
6.2303 |
6.0021 |
5.7864 |
5.5824 |
5.3893 |
5.2064 |
5.0330 |
4.8684 |
4.5638 |
4.1604 |
7 |
| 8 |
7.6517 |
7.3255 |
7.0197 |
6.7327 |
6.4632 |
6.2098 |
5.9713 |
5.7466 |
5.5348 |
5.3349 |
4.9676 |
4.4873 |
8 |
| 9 |
8.5660 |
8.1622 |
7.7861 |
7.4353 |
7.1078 |
6.8017 |
6.5152 |
6.2469 |
5.9952 |
5.7590 |
5.3282 |
4.7716 |
9 |
| 10 |
9.4713 |
8.9826 |
8.5302 |
8.1109 |
7.7217 |
7.3601 |
7.0236 |
6.7101 |
6.4177 |
6.1446 |
5.6502 |
5.0188 |
10 |
| 11 |
10.3676 |
9.7868 |
9.2526 |
8.7605 |
8.3064 |
7.8869 |
7.4987 |
7.1390 |
6.8052 |
6.4951 |
5.9377 |
5.2337 |
11 |
| 12 |
11.2551 |
10.5753 |
9.9540 |
9.3851 |
8.8633 |
8.3838 |
7.9427 |
7.5361 |
7.1607 |
6.8137 |
6.1944 |
5.4206 |
12 |
| 13 |
12.1337 |
11.3484 |
10.6350 |
9.9856 |
9.3936 |
8.8527 |
8.3577 |
7.9038 |
7.4869 |
7.1034 |
6.4235 |
5.5831 |
13 |
| 14 |
13.0037 |
12.1062 |
11.2961 |
10.5631 |
9.8986 |
9.2950 |
8.7455 |
8.2442 |
7.7862 |
7.3667 |
6.6282 |
5.7245 |
14 |
| 15 |
13.8651 |
12.8493 |
11.9379 |
11.1184 |
10.3797 |
9.7122 |
9.1079 |
8.5595 |
8.0607 |
7.6061 |
6.8109 |
5.8474 |
15 |
| 16 |
14.7179 |
13.5777 |
12.5611 |
11.6523 |
10.8378 |
10.1059 |
9.4466 |
8.8514 |
8.3126 |
7.8237 |
6.9740 |
5.9542 |
16 |
| 17 |
15.5623 |
14.2919 |
13.1661 |
12.1657 |
11.2741 |
10.4773 |
9.7632 |
9.1216 |
8.5436 |
8.0216 |
7.1196 |
6.0472 |
17 |
| 18 |
16.3983 |
14.9920 |
13.7535 |
12.6593 |
11.6896 |
10.8276 |
10.0591 |
9.3719 |
8.7556 |
8.2014 |
7.2497 |
6.1280 |
18 |
| 19 |
17.2260 |
15.6785 |
14.3238 |
13.1339 |
12.0853 |
11.1581 |
10.3356 |
9.6036 |
8.9501 |
8.3649 |
7.3658 |
6.1982 |
19 |
| 20 |
18.0456 |
16.3514 |
14.8775 |
13.5903 |
12.4622 |
11.4699 |
10.5940 |
9.8181 |
9.1285 |
8.5136 |
7.4694 |
6.2593 |
20 |
| 25 |
22.0232 |
19.5235 |
17.4131 |
15.6221 |
14.0939 |
12.7834 |
11.6536 |
10.6748 |
9.8226 |
9.0770 |
7.8431 |
6.4641 |
25 |
| 30 |
25.8077 |
22.3965 |
19.6004 |
17.2920 |
15.3725 |
13.7648 |
12.4090 |
11.2578 |
10.2737 |
9.4269 |
8.0552 |
6.5660 |
30 |
| 35 |
29.4086 |
24.9986 |
21.4872 |
18.6646 |
16.3742 |
14.4982 |
12.9477 |
11.6546 |
10.5668 |
9.6442 |
8.1755 |
6.6166 |
35 |
| 40 |
32.8347 |
27.3555 |
23.1148 |
19.7928 |
17.1591 |
15.0463 |
13.3317 |
11.9246 |
10.7574 |
9.7791 |
8.2438 |
6.6418 |
40 |
‡Used to calculate the present value of a series of equal payments made at the end of each period. For example: What is the present value of $2,000 per year for 10 years assuming an annual interest rate of 9%? For (n = 10, i = 9%), the PV factor is 6.4177. $2,000 per year for 10 years is the equivalent of $12,835 today ($2,000 × 6.4177).