Present Value of Annuity Calculator

Calculate the present value of a stream of equal future payments, discounted back to today’s dollars.

Payment per Period

Discount Rate per Period

Number of Periods

What is Present Value of an Annuity?

The present value of an annuity tells you what a series of equal future payments is worth in today’s dollars, given a discount rate that reflects the time value of money.

The Formula

PV = Payment × (1 – (1 + r)^-n) ÷ r, where r is the discount rate per period and n is the number of periods. This assumes an ordinary annuity, with payments made at the end of each period.

Note: This tool is for general educational and planning purposes only, not investment advice.

Last reviewed August 2026