FVIFA Table

The table below lists the future value interest factor of annuity (FVIFA) for 1 to 25 periods at interest rates from 1% to 20%. Find the row for your number of periods, the column for your interest rate, and multiply the factor by your periodic payment to get the future value of the annuity.

FVIFA Table: 1%–20%, 1–25 Periods

What is FVIFA?

The future value interest factor of annuity (FVIFA) is a multiplier that converts a series of equal periodic payments into their combined future value, assuming each payment earns compound interest until the end of the last period. The formula is:

Where $r$ is the interest rate per period (in decimal) and $n$ is the number of periods. To get the future value of an annuity, multiply FVIFA by the payment amount:

For example, if you deposit $500 per year for 10 years at 6%, the FVIFA is 13.1808. Your annuity grows to $500 × 13.1808 = $6,590.40.

How to Read the Table

1. Find your number of periods in the leftmost column (labeled $n$).
2. Find your interest rate across the top row.
3. Read the FVIFA at the intersection.
4. Multiply FVIFA × your periodic payment = future value of the annuity.

Worked Example

You invest $200 per month for 3 years at an annual rate of 2%. Since the table uses per-period rates, and you are paying annually in this example:

• Row: $n = 3$
• Column: 2%
• FVIFA: 3.0604
• Future value: $200 × 3.0604 = $612.08

Notes on Using the Table

Period 1 Is Always 1.0000

When $n = 1$, there is only one payment at the end of the period and no time for it to compound. Regardless of the interest rate, FVIFA is exactly 1.0000 — the future value equals the payment itself.

Rate and Period Must Match

The table assumes the interest rate and the period length are consistent. If you have a 6% annual rate but make monthly payments, you need to use a monthly rate (6% ÷ 12 = 0.5%) and the number of months as $n$. The table columns may not include 0.5%, so in those cases use the FVIFA Calculator for exact results.

Ordinary Annuity Only

The table values assume an ordinary annuity — payments occur at the end of each period. For an annuity due (payments at the beginning), multiply any table value by $(1 + r)$:

Interpolation for Unlisted Rates

If your rate falls between two columns (e.g., 4.5%), you can approximate by averaging the 4% and 5% values. For precise results, use the formula directly or the FVIFA Calculator.

Relationship to Other Factor Tables

FVIFA is one of four standard time-value-of-money factors. Each has its own reference table:

FVIFA is derived from FVIF: $\text{FVIFA} = (\text{FVIF} - 1) / r$. If you already have an FVIF table, you can compute FVIFA from it.

Frequently Asked Questions

What if my rate or period is not in the table?

Use the FVIFA formula $[(1 + r)^{n} - 1] / r$ or the FVIFA Calculator for exact values. You can also interpolate between the two nearest table entries for a quick approximation.

Can I use this table for monthly payments?

Yes, but the rate column must reflect the per-month rate and $n$ must be the number of months. For example, a 6% annual rate with monthly payments means using 0.5% per month. Since 0.5% is not a column in this table, the calculator is the better tool for monthly scenarios.

Why does FVIFA grow so fast at higher rates?

Because every payment compounds at the given rate for its remaining life. At higher rates, the early payments accumulate dramatically more interest. At 20% over 25 periods, FVIFA reaches 471.98 — each $1 per period is worth nearly $472.

Is this table for ordinary annuity or annuity due?

This table is for an ordinary annuity (end-of-period payments). For annuity due, multiply the table value by $(1 + r)$.