Seek Returns logo

Future Value Interest Factor of Annuity (FVIFA) Table

Updated

Imagine you’re saving a fixed amount every year to build a nest egg for the future—how much will it really be worth down the road? That’s where the future value interest factor of annuity (FVIFA) comes in. It’s a powerful tool that helps you calculate the future value of a series of equal payments, factoring in interest over time, without getting lost in complex math.

What is FVIFA?

The future value interest factor of annuity (FVIFA) shows how much a series of equal payments will be worth in the future, with compound interest factored in. Imagine setting aside $500 each year for 10 years at a 6% interest rate. The FVIFA will tell you exactly how much your savings will be worth at the end—not just the $5,000 you put in, but also the extra money earned from interest.

The math behind FVIFA is straightforward:

FVIFA=(1+r)n−1r\text{FVIFA} = \frac{(1 + r)^n - 1}{r}

In this formula, r is the interest rate per period, and n is the total number of payments. But don’t worry about calculating this by hand. FVIFA tables already provide these values, allowing you to avoid complex computations. Using FVIFA tables is a quick and easy way to see how time and interest can grow your money.

FVIFA table

Periods (n)1%2%3%4%5%6%7%8%9%10%11%12%13%14%15%16%20%
11.00001.02001.03001.04001.05001.06001.07001.08001.09001.10001.11001.12001.13001.14001.15001.16001.2000
22.01002.02002.03002.04002.05002.06002.07002.08002.09002.10002.11002.12002.13002.14002.15002.16002.2000
33.03013.06043.09093.12163.15253.18363.21493.24643.27813.31003.34213.37443.40693.43963.47253.50563.6400
44.06044.12164.18364.24654.31014.37464.43994.50614.57314.64104.70974.77934.84984.92114.99345.06655.3680
55.10105.20405.30915.41635.52565.63715.75075.86665.98476.10516.22786.35286.48036.61016.74246.87717.4416
66.15206.30816.46846.63306.80196.97537.15337.33597.52337.71567.91298.11528.32278.53558.75378.97759.9299
77.21357.43437.66257.89838.14208.39388.65408.92289.20049.48729.783310.089010.404710.730511.066811.413912.9159
88.28578.58308.89239.21429.54919.897510.259810.636611.028511.435911.859412.299712.757313.232813.726814.240116.4991
99.36859.754610.159110.582811.026611.491311.978012.487613.021013.579514.164014.775715.415716.085316.785817.518520.7989
1010.462210.949711.463912.006112.577913.180813.816414.486615.192915.937416.722017.548718.419719.337320.303721.321525.9587
1111.566812.168712.807813.486414.206814.971615.783616.645517.560318.531219.561420.654621.814323.044524.349325.732932.1504
1212.682513.412114.192015.025815.917116.869917.888518.977120.140721.384322.713224.133125.650227.270729.001730.850239.5805
1313.809314.680315.617816.626817.713018.882120.140621.495322.953424.522726.211628.029129.984732.088734.351936.786248.4966
1414.947415.973917.086318.291919.598621.015122.550524.214926.019227.975030.094932.392634.882737.581140.504743.672059.1959
1516.096917.293418.598920.023621.578623.276025.129027.152129.360931.772534.405437.279740.417543.842447.580451.659572.0351
1617.257918.639320.156921.824523.657525.672527.888130.324333.003435.949739.189942.753346.671750.980455.717560.925087.4421
1718.430420.012121.761623.697525.840428.212930.840233.750236.973740.544744.500848.883753.739159.117665.075171.6730105.931
1819.614721.412323.414425.645428.132430.905733.999037.450241.301345.599250.395955.749761.725168.394175.836484.1407128.117
1920.810922.840625.116927.671230.539033.760037.379041.446346.018551.159156.939563.439770.749478.969288.211898.6032154.740
2022.019024.297426.870429.778133.066036.785640.995545.762051.160157.275064.202872.052480.946891.0249102.444115.380186.688
2123.239225.783328.676531.969235.719339.992744.865250.422956.764564.002572.265181.698792.4699104.768118.810134.841225.026
2224.471627.299030.536834.248038.505243.392349.005755.456862.873371.402781.214392.5026105.491120.436137.632157.415271.031
2325.716328.845032.452936.617941.430546.995853.436160.893369.531979.543091.1479104.603120.205138.297159.276183.601326.237
2426.973530.421934.426539.082644.502050.815658.176766.764876.789888.4973102.174118.155136.831158.659184.168213.978392.484
2528.243232.030336.459341.645947.727154.864563.249073.105984.700998.3471114.413133.334155.620181.871212.793249.214471.981

How to use the FVIFA table in real life

The FVIFA table helps you quickly calculate the future value of regular payments without complex formulas. Suppose you invest $200 annually at a 2% interest rate for three years. Here’s how to use the table:

  1. Find the column for 2% interest.
  2. Locate the row for 3 years.
  3. Identify the FVIFA factor at their intersection—let’s say 3.0604.
  4. Multiply your annual investment by this factor:
    $200×3.0604=$612.08\$200 \times 3.0604 = \$612.08

This means your total investment grows to $612.08 after three years.

Frequently asked questions

What if my interest rate or time period isn’t in the table?

If your specific interest rate (like 2.5%) or time period (such as 7 years) isn’t included in the table, don’t worry—there are simple ways to handle it. You can estimate the value by averaging between the nearest listed rates or periods, which works well for a rough figure. Alternatively, for a more exact result, plug your numbers into the FVIFA formula:

FVIFA=(1+r)n−1r\text{FVIFA} = \frac{(1 + r)^n - 1}{r}

Even better, skip the math entirely and use our FVIFA Calculator—just enter your rate and period, and you’ll get a precise answer in seconds.

Does the FVIFA table work for monthly payments?

The FVIFA table can work for monthly payments, but you’ll need to tweak the inputs first. Convert the time period by multiplying the number of years by 12 (e.g., 3 years becomes 36 months) and adjust the interest rate by dividing the annual rate by 12 (e.g., 2% per year becomes about 0.167% per month).

However, most FVIFA tables are designed for annual compounding, so after these adjustments, you’re unlikely to find an exact match in the table. In that case, you’ll likely need to calculate it yourself using the methods mentioned earlier—either interpolation or the FVIFA formula—or simply use our FVIFA Calculator for an exact result.