TVM Calculator
Solve for any one of N, rate, PV, PMT or FV.
Solve for
Payments at
Your result
—
Enter your numbers to see the result.
This TVM calculator (time value of money) works like the five-key financial calculators used in finance classes and exams. Enter any four of number of periods, interest rate, present value, payment and future value, and it solves for the fifth. It supports monthly, quarterly, semi-annual and annual periods and payments at the beginning or end of each period.
What is a TVM Calculator?
The time value of money (TVM) is the idea that money today is worth more than the same amount in the future, because it can earn interest. Almost every finance problem, from loans and mortgages to savings plans, annuities and bond prices, can be described with five numbers: the number of periods (N), the interest rate (I/Y), the present value (PV), the payment (PMT) and the future value (FV).
If you know four of them, you can solve for the fifth. That is exactly what a financial calculator does, and what this TVM calculator does in your browser, using the same sign convention as the BA II Plus and HP 12C.
How does the TVM Calculator work?
The calculator uses the TVM equation PV × (1 + i)^N + PMT × (1 + i × t) × ((1 + i)^N − 1) ÷ i + FV = 0, where i is the periodic rate and t is 1 for payments at the beginning of each period. It rearranges the equation to solve for FV, PV, PMT or N directly, and searches numerically for the rate.
How to use the TVM Calculator step by step
- Choose what to solve for.
- Enter the number of years and periods per year.
- Enter the annual rate.
- Enter PV, PMT and FV, using negative numbers for money you pay out.
- Choose end or beginning of period.
- Read the answer and check all five values.
TVM Calculator example with real numbers
You invest $10,000 today and add $200 at the end of every month for 10 years, earning 7% a year compounded monthly. What will you have?
| Example input | Value |
|---|---|
| Solve for | FV |
| PV | −$10,000 (you invest it) |
| PMT | −$200 a month |
| Rate and time | 7% a year, 10 years, monthly |
| Example output | Value |
|---|---|
| Future value (FV) | $54,713.58 |
| N (periods) | 120.00 |
| Annual rate (I/Y) | 7.0000% |
| Present value (PV) | -$10,000.00 |
| Payment (PMT) | -$200.00 |
| Future value (FV) | $54,713.58 |
| Total of payments | -$24,000.00 |
| Interest earned (or paid) | $20,713.58 |
The TVM calculator shows a future value of $54,713.58. The negative PV and PMT are money you pay in; the positive FV is what you get back.
Key features of this TVM Calculator
- Solve for any of five variables
- Monthly to annual periods
- Annuity due option
- Financial calculator sign convention
- 8 currencies
Who should use the TVM Calculator?
Who is this TVM Calculator for?
- Finance, accounting and MBA students
- CFA and CFP candidates
- Analysts and planners
- Anyone checking a loan or savings plan
Practical use cases
- Homework and exam practice
- Finding the rate on an investment
- Working out a loan payment
- Checking how long savings will last
Key benefits
- Familiar: works like a financial calculator.
- Complete: all five solves.
- Clear: every value shown.
- Private: runs in your browser.
Tips for better results
- Keep signs consistent: outflows negative, inflows positive.
- Match periods per year to the payment frequency.
- Use beginning-of-period for rent and leases.
- Check your answer by solving back for another variable.
Common mistakes to avoid
- Entering all values as positive.
- Mixing monthly payments with annual periods.
- Using a percentage as a decimal (7 not 0.07).
- Forgetting to set annuity due when payments start today.
Limitations of this TVM Calculator
- Rates are nominal and constant.
- Payments are equal and regular.
- Uneven cash flows need an NPV/IRR tool.
TVM Calculator vs other ways to calculate
| Variable | Meaning | Typical sign |
|---|---|---|
| N | Number of periods | — |
| I/Y | Annual interest rate | — |
| PV | Value today | Negative if invested, positive if borrowed |
| PMT | Regular payment | Negative if you pay |
| FV | Value at the end | Positive if received |
For uneven cash flows, use the NPV and IRR calculator. For simple growth, try the future value calculator.
Privacy and data handling
This TVM Calculator runs entirely in your browser. The numbers you type are not sent to Qorico or stored on any server, and nothing is saved after you close the page. The Copy and Download buttons create the result on your own device. If the page has analytics turned on, it may count that a calculation happened, but it does not record the values you entered.
TVM Calculator FAQs
What is the time value of money?
The principle that money today is worth more than the same amount later because it can earn a return.
Why are some values negative?
TVM uses cash-flow signs: money leaving you is negative and money coming to you is positive.
How do I solve for the interest rate?
Choose Rate, enter N, PV, PMT and FV with correct signs, and the calculator searches for the rate.
What is an annuity due?
A series of payments made at the start of each period, such as rent.
Is this the same as a BA II Plus?
It uses the same equation and sign convention, so answers match for standard problems.
Can I use it for a loan?
Yes. Enter the loan as a positive PV, FV as 0 and solve for PMT, which will be negative.
Related tools
Sources and references
We checked the method and the current figures used in this TVM Calculator against these official and primary sources:
- Corporate Finance Institute: Time value of money
- CFA Institute
- Investor.gov: Compound interest calculator
- U.S. Small Business Administration
Written and reviewed by the Qorico Team
