Finance Calculator (TVM)
Time value of money solver. Enter any 4 of 5 variables (PV, FV, Rate, Nper, PMT) and solve for the missing one. Supports begin/end payment timing.
Leave exactly one field blank to solve for it.
Solved Value
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Total Payments
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Total Interest
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What is Finance Calculator (TVM)?
The Time Value of Money (TVM) calculator solves for any one of five financial variables: Present Value (PV), Future Value (FV), Interest Rate per period, Number of periods (Nper), and Payment (PMT). Leave exactly one field blank and the calculator solves for it.
How to use
- 1 Enter values for any 4 of the 5 fields: PV, FV, Rate (per period %), Nper, and PMT.
- 2 Leave the field you want to solve for completely blank.
- 3 Select payment timing: End of period (ordinary annuity) or Beginning of period (annuity due).
- 4 Click Solve to calculate the missing value.
- 5 Note: PV and FV typically have opposite signs in cash flow convention (inflow positive, outflow negative).
Formula
Example calculation
Monthly payment on a $20,000 loan at 6% annual (0.5%/month) over 48 months: PV=20000, FV=0, Rate=0.5, Nper=48, solve PMT → PMT = −$469.70.
Frequently asked questions
What sign convention should I use?
Use cash flow convention: money you receive is positive, money you pay out is negative. For a loan: PV is positive (you receive it), PMT is negative (you pay it), FV is 0 or negative.
Is the rate per period or annual?
The rate field is per period. For a monthly calculation, enter the monthly rate (annual rate / 12). For annual calculations, enter the annual rate directly.
What is the difference between end and beginning payments?
End of period (ordinary annuity) means payments occur at the end of each period — typical for loans and mortgages. Beginning of period (annuity due) means payments occur at the start — common for leases and rent.
Why does solving for rate take longer?
Rate cannot be solved with a direct formula. The calculator uses Newton's method, an iterative approximation that converges to the answer. It typically solves in under 100 iterations.
Can this calculate mortgage payments?
Yes. Enter PV = loan amount, FV = 0, Rate = monthly rate (annual%/12), Nper = months, leave PMT blank and solve. The result is your monthly payment (negative = payment made).