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Financial Calculator (TVM)

Solve for future value, present value, payment, rate or number of periods from the other figures.

By Nitin Raturi · Last reviewed

Your cash flows

How to use this Financial Calculator (TVM)

Pick the one figure you want, fill in the rest, and the answer updates as you type. Everything stays in your browser.

  1. Choose what to solve for: future value, present value, payment, rate per year or number of periods.
  2. Enter the other four figures. Use a minus sign for money you pay out and no sign for money you receive.
  3. Set how often interest compounds and how often payments are made.
  4. Choose whether payments fall at the start or the end of each period.
  5. Read the answer and the assumptions underneath, then check the yearly table.
  6. Copy the page address to keep or share your numbers.

Good to know

  • Tap the ⓘ next to any field for a short guide to it.
  • The greyed field is the answer. Switch the solve-for choice to turn another field into the answer.
  • A loan is a positive present value with negative payments. A saving plan is the reverse.

Enter amounts in whichever currency you use. Money you pay is negative and money you receive is positive. The calculation stays in your browser.

Solve for

Solve for

The one figure you want the calculator to work out. Fill in the other four and it finds this one.

How to fill it in

  • Future value: what a plan grows to, or the balance left at the end.
  • Present value: what a future amount is worth today, or the size of a loan.
  • Payment: the regular amount needed each period.
  • Rate per year: the interest rate that links the other figures.
  • Number of periods: how many payments it takes.

Example

Solving for future value with the default plan gives 1,00,133.64.

Tip: The field you solve for is greyed out and shows the answer. Its earlier value is kept if you switch back.

Present value

The amount at the very start. For a loan it is the amount you borrow. For savings it is the lump sum you put in today.

How to fill it in

  • Money you receive is positive. Money you pay out is negative.
  • A loan you take is positive. A lump sum you deposit is negative.
  • Enter 0 if you start from nothing.
  • Type plain numbers such as 10000 or 10,000. Add a minus sign for money you pay.

Example

A loan of 5,00,000 is entered as 5,00,000. A deposit of 10,000 is entered as −10,000.

Keep in mind: Getting the sign wrong turns a saving plan into a borrowing plan, so check the direction of each amount.

Payment each period

The amount paid or received every payment period, such as a monthly instalment or a monthly deposit.

How to fill it in

  • Money you receive is positive. Money you pay out is negative.
  • A deposit you make or an instalment you pay is negative.
  • Enter 0 if there are no regular payments.
  • How often it happens is set by the payment frequency.

Example

Paying a 4,498.63 instalment each month is entered as −4,498.63.

Tip: Payments are taken to be equal in size and evenly spaced.

Future value

The amount at the end of the last period. For savings it is the target. For a loan it is the balance still owed, which is 0 when the loan is fully repaid.

How to fill it in

  • Money you receive is positive. Money you pay out is negative.
  • A target you will receive is positive. A final balloon amount you will pay is negative.
  • Enter 0 for a loan that is repaid in full.

Example

The default plan of regular deposits grows to 1,00,133.64 after 120 months.

Keep in mind: The result follows from the assumptions you enter. It is an illustration, and returns are not guaranteed.

Rate per year

The yearly interest rate, quoted as a nominal rate. It is converted to a rate for each payment period using the compounding frequency.

How to fill it in

  • Enter the yearly rate as a percentage, for example 6 or 7.25.
  • Allowed range: −50% to 200% a year.
  • Use 0 to see the plain sum of the amounts with no interest.
  • Choose the compounding frequency separately.

Example

A loan of 2,50,000 repaid with 5,000 a month for 60 months has a rate of about 7.42% a year.

Keep in mind: A real rate can change over time and may include fees that this calculator leaves out.

Number of periods

How many payment periods the plan lasts. One period is the time between two payments.

How to fill it in

  • Enter a number from 1 to 36,500.
  • If you pay monthly, 120 periods is 10 years. If you pay quarterly, 40 periods is 10 years.
  • A solved answer can include decimals, because the last period may be partial.

Example

Reaching 25,000 from 5,000 with 200 a month at 7% takes about 70.75 monthly periods.

Tip: The years shown beside the answer divide the periods by the payments per year.

Compounding frequency

Compounding frequency

How many times a year interest is added to the balance, so that it starts earning interest itself.

How to fill it in

  • Choose from yearly, half-yearly, quarterly, monthly, weekly or daily.
  • It can differ from the payment frequency. The calculator converts between them.
  • A higher frequency gives a slightly higher effective yearly rate for the same nominal rate.

Example

A nominal rate of 6% compounded monthly is an effective 6.17% a year.

Keep in mind: Lenders and banks use different conventions. Check the one in your agreement.

Payment frequency

Payment frequency

How many payments are made in a year. It sets the length of one period.

How to fill it in

  • Choose from yearly, half-yearly, quarterly, monthly, weekly or daily.
  • The number of periods and the payment amount refer to this frequency.
  • Changing it changes the meaning of the period count, so review that field too.

Example

With 12 payments a year, 120 periods last 10 years.

Payments at

Payments at

Whether each payment is made at the start or at the end of its period.

How to fill it in

  • End of period: the usual choice for loan instalments paid after each month.
  • Start of period: for rent, insurance premiums or deposits made on day one.
  • Start-of-period payments earn or cost one extra period of interest.

Example

A 5,00,000 loan has a payment of 4,498.63 at the end of each month and 4,465.14 at the start.

Tip: If a result differs from another calculator, check this setting first.

Result

Future value

1,00,133.64

Positive: this amount is money you receive.

Effective annual rate
6.1678%
Length of the plan
10.00 years
Total of all payments
−60,000.00
Net of all cash flows
30,133.64
Positive means money held, negative means money owed.
YearPosition at year end
116,784.56
223,987.58
331,634.86
439,753.81
548,373.52
657,524.87
767,240.66
877,555.70
988,506.94
101,00,133.64

ChangelogHow we test this calculatorEmbed this calculator

How this calculator works

Put 10,000 in today, add 500 a month for 120 months at 6% a year, and the estimated balance is about 1,00,134.

  1. Step 1Pick one unknownSolve forfuture value, present value, payment, rate or number of periods
  2. Step 2Convert the rate0.5%the yearly rate becomes a rate for one payment period
  3. Step 3Balance the cash flows1,00,133.64everything paid and received must add up to zero in value terms

Time value of money says that an amount today and the same amount later are not equal, because money can earn or cost interest in between. One equation links the starting amount, the regular payments, the end amount, the rate and the number of periods.

Money you receive is positive and money you pay out is negative. A loan is a positive present value with negative payments. A savings plan is the reverse. Switching the sign convention flips the signs of the answer, not its size.

What the result leaves out

  • Fees and taxesCharges, taxes and inflation are not included in any figure.
  • Steady rateOne rate applies to the whole period. Real rates and returns move over time.
  • Even paymentsPayments are equal, evenly spaced and made on time, with no skipped or extra instalments.

Worked example

10,000 start, 500 a month, 6% a year for 120 months
Rate per period
i = (1 + r ÷ C)^(C ÷ P) − 1
Growth factor
g = (1 + i)^N
Annuity factor
S = (g − 1) ÷ i
Future value
FV = −(PV × g + PMT × S)
  • rnominal yearly rate 6%
  • C, Pcompounding and payment frequency a year 12, 12
  • Nnumber of payment periods 120
  1. Rate for one monthr ÷ 120.5%
  2. Growth factor(1 + i)^1201.8194
  3. Annuity factor(g − 1) ÷ i163.8793
  4. Starting amount grownPV × g−18,193.97
  5. Monthly payments grownPMT × S−81,939.67
  6. Future value−(sum of the two lines above)1,00,133.64

Figures are rounded for display. The calculation keeps full precision and rounds only what you see.

Reading your result

  • End of period4,498.63Monthly payment on 5,00,000 at 9% for 240 months.
  • Start of period4,465.14Paying a month earlier means less interest builds up, so each payment is smaller.
Check your loan agreement for the timing and compounding it actually uses.
  • Money you put in
  • Estimated balance at the end
  • Paid in (start + payments)70,000
  • Future value1,00,134
The gap between the bars is the interest earned in the default example.

Solving for the number of periods can give a decimal. For example, reaching 25,000 takes about 70.75 monthly periods, so the last payment is partly needed.

Solving for the rate finds the single rate that balances the cash flows. A loan of 2,50,000 repaid at 5,000 a month for 60 months works out to about 7.42% a year.

Simpler tools for common questions

This calculator solves any of five values. For a single everyday question, a dedicated tool needs fewer inputs.

For a loan’s monthly payment, use the EMI calculator; for how long a payment takes, the loan tenure calculator. For a loan’s rate from its payment, try the interest rate calculator.

To grow or discount a single sum with deposits, the future value calculator and present value calculator cover one direction each. For monthly investing, the SIP calculator adds step-ups and inflation.

Common mistakes

  • Mistake: Entering every amount as a positive number.

    Instead: Use a minus sign for money you pay out and no sign for money you receive.

  • Mistake: Mixing yearly rates with monthly periods without a thought.

    Instead: Enter the yearly rate, then set the compounding and payment frequency separately.

  • Mistake: Treating the estimate as a promise of returns.

    Instead: Read it as an illustration of the assumptions you entered.

This calculator does not assess affordability or recommend a product. For exact obligations use your lender’s or bank’s written terms, and consult a qualified professional about your own situation.

Checking the method

A separate script recomputes every test case two ways: by the closed forms, and by a period-by-period ledger with a search for each unknown.

Read how we test our calculators, or browse more money calculators.

Frequently asked questions

What does TVM stand for?

Time value of money. It is the idea that an amount today and the same amount later are worth different amounts because money can earn or cost interest in between.

Which figure can I solve for?

Any one of future value, present value, the regular payment, the yearly rate or the number of periods. Fill in the other four.

Why are some amounts negative?

The calculator treats money you receive as positive and money you pay out as negative. A loan is a positive present value with negative payments.

What is the difference between compounding and payment frequency?

Compounding is how often interest is added to the balance. Payment frequency is how often you pay or deposit. They can differ and the calculator converts between them.

What changes when payments are at the start of each period?

Each payment earns or avoids one extra period of interest, so the future value is higher and a loan payment is a little smaller.

Why does the rate sometimes show a note about more than one rate?

When cash flows change direction more than once, more than one rate can balance them. The calculator shows the one closest to 0%.

Which currency does it use?

None in particular. Enter amounts in whichever currency you use. The calculator only does the arithmetic.

Is the result a quote or a promise of returns?

No. It is an illustration of the assumptions you enter. Real rates change, and fees, taxes and lender conventions can change the figures.

Sources and methodology

The formulas are standard time-value-of-money results. We check every figure against golden values worked out independently, by closed form and by month-by-month simulation; see the methodology.

Written and maintained by Nitin Raturi, a software engineer (about the author). Last reviewed 22 Oct 2026; next review due by . Found an error? Tell us.

Changelog

  • : Initial release. Solves for any one of future value, present value, payment, rate or periods. The default plan grows to about 1,00,134.

  • EMI Calculator

    Estimate a fixed monthly loan payment, total interest and how the balance may change over time.

  • Compound Interest Calculator

    Estimate compound growth from a starting amount and monthly deposits with selectable compounding.

  • SIP Calculator

    See what a monthly SIP could grow to, the SIP a goal needs, or how long it may take, with every assumption shown and editable.