Present Value of Annuity Calculator
Enter a level, recurring payment — a pension, structured payout, or scheduled benefit — to see its present value in today's dollars and its future value if left to accumulate. Or flip it around: enter a target value and solve for the discount rate implied.
Payment Stream
Value Summary
Solve for the Implied Discount Rate
Have a lump-sum offer or a target accumulation goal instead of a rate? Enter it here — using the same payment and period count above — and we'll back-calculate the rate implied.
Payment-by-Payment Breakdown
How much each individual payment is worth today, and how much it contributes to the final future value.
| Period | Payment | PV of this payment | Cumulative PV | Cumulative FV |
|---|
How this calculator works
This tool treats your payment stream as an ordinary annuity — level payments made at the end of each period — the standard structure for pensions, structured settlements, and scheduled benefit payouts.
Present value: PV = PMT × [1 − (1 + r)^−n] ÷ r
Future value: FV = PMT × [(1 + r)^n − 1] ÷ r
where r is the periodic rate (nominal annual rate ÷ payments
per year) and n is the number of periods.
Frequently asked questions
What's the difference between present value and future value? Present value tells you what the whole payment stream is worth if you had it all today, in a lump sum. Future value tells you what it would grow to if every payment were reinvested at the same rate until the final payment date.
Why does the implied rate change if I use PV vs. FV? They're solving for the same underlying rate from two different vantage points — a target today (PV) vs. a target at the end (FV) — so double-check which number you were actually quoted before comparing offers.