Table 1: F uture Value Interest F actor (F. V. IF.) ($1 at r% for n periods). F. V .. Table 3: Future Value of an Annuity Interest Factor (FVIFA) ($1 per period at r%. n \ r. 1%. 2%. 3%. 4%. 5%. 6%. 7%. 8%. 9%. 10%. 11%. 12%. 13%. 14%. 15%. 16%. 17%. 1. This tutorial demonstrates how to create the PVIF, FVIF, PVIFA, and FVIFA tables using Excel. I use conditional formatting, custom number formatting, data.

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Conditional formatting changes the look of a cell or range when certain conditions are met.

If you change the value in B1, for example, then the interest rates in the table will change, and the interest factors will be recalculated as well. Virtually every finance textbook has, at the back, a series of tables that contain multipliers that can be used to easily calculate present or future values without the need for a financial calculator.

The PVIF is 0. We want to create rules that are based on formulas, so choose the last item in the Rule Type list Use a formula to determine which cells to format. F2, so we can hide those cells by setting the font color to white. This tells Excel to display the word “Period” regardless of the result of the formula.


You can gvifa how the rules are created. Note that this does not change the formula or the result, only what appears in the cell.

The format mask to do that is 0. A70 and then create this formatting rule:. Then you have to interpolate because 3. Apply a format by clicking the Format button and apply some borders, background shading, and a bold font.

FVIFA Calculator

For regular annuities this argument is 0, but for annuities due it is 1. Table recalculation can be slow for large tables or complicated formulas, so one of Excel’s calculation options is to Automatic Except for Data Tables. So we will simply copy the PVIF worksheet. It works by substituting the a value from the top row and left column into the cells specified F1 and F2. Once we get this working properly, we can simply copy the worksheet and then change the formula that drives the table.

For the interest rate we want to allow any decimal number between 0 and 0. P10 should have the format. For the text in A9 we need to specify slightly different text depending on the type of annuity. Not too bad, but the tables that we create here can easily have the exact interest rate that you need.

FVIFA Calculator – Calculate Future Value Interest Factor of Annuity

Excel does this repeatedly to fill in the table. So, we will apply a custom format to display the text “Period” instead of the result of the formula.


So, tavle with the appropriate table and a way to multiply any calculator or even with pencil and paper you too can easily solve time value of money problems.

To set the custom number format, select A10 and then right click and choose Format Cells. Select the entire table A But what happens if the interest rate is 3. Are you a student?

Time value of money tables are very easy to use because they provide a “factor” that is multiplied by a present value, future value, or annuity payment to find the answer. This tutorial will demonstrate how to create these tables using Excel.

Time Value of Money Tables in Excel |

So, essentially what happens in the data table is that Excel will plug numbers into F1 and F2 and then recalculate the formula in A If you choose, you can set an input message that will popup when the cell is selected, and an error message that is displayed if the user enters a number outside of the allowable range.

Choose New Rule from the fvjfa. In fact, it just confuses things.

Go to the Number tab and choose the Custom category. Apply a border to the bottom using the Format button.