Free Online Finance Calculator
Finance Calculator (TVM)
Solve for FV, PMT, I/Y, N or PV. Configure periods, compounding and payment timing.
Finance Calculator (TVM): A Friendly Guide to Solving FV, PMT, I/Y, N & PV
If you’ve ever wondered “How much will my savings grow?”, “What loan payment can I afford?”, or “How long until I hit my goal?” — this Finance Calculator (TVM) does the heavy lifting for you. Think of it as your smart math buddy for the time value of money: money now vs money later, plus the interest it earns (or costs).
What is a TVM (Time Value of Money) Calculator?
A TVM calculator helps you solve any one of the five core money variables when you know the other four:
- PV — Present Value (today’s amount)
- PMT — Periodic Payment (what you pay or save each period)
- I/Y — Interest Rate per year (annual nominal rate)
- N — Number of periods (months/years)
- FV — Future Value (what it grows to)
You’ll also set:
- P/Y (Payments per year) — e.g., 12 for monthly, 4 for quarterly, 1 for yearly
- C/Y (Compounding per year) — how often interest compounds
- Payment Timing — End (ordinary annuity) or Beginning (annuity due)
A quick sign tip: money you pay is usually treated as negative (cash outflow), and money you receive is positive (cash inflow). That keeps the math consistent and your results accurate.
Step-by-Step: How to Use the Calculator
1) Pick what you want to solve
- Choose FV, PMT, I/Y, N, or PV as the unknown. That field is left blank (or ignored), and the calculator solves it.
2) Fill the other four inputs
Type values for the remaining fields. Examples:
- PV: loan amount (positive to you), or current savings
- PMT: monthly deposit or loan payment (negative if it’s your payment)
- I/Y: annual interest rate (e.g., 8 means 8% per year)
- N: total number of periods (e.g., 60 for 5 years of monthly payments)
- FV: target amount in the future
3) Set P/Y and C/Y
- P/Y = how often you pay (12 for monthly).
- C/Y = how often interest compounds (commonly 12 for monthly compounding).
These don’t always have to match, but many bank products use monthly for both.
4) Choose Payment Timing
- End of period (most loans & SIPs)
- Beginning of period (rent, some annuities)
If you pay at the start of each period, choose Beginning to get a slightly higher FV (or slightly lower needed PMT) because your money sits longer.
5) Click Calculate
You’ll see:
- The solved value (FV, PMT, I/Y, N, or PV)
- Total Payments, Total Interest, Effective Annual Rate (EAR)
- Optional charts and an amortization/schedule for loans
- Handy Print / Export PDF / Export CSV options for reports
Real-Life Mini Examples (quick and clear)
Note: $ values are just examples. Change them to match your goal.
A) Savings goal (solve FV)
- Inputs: PV = 0, PMT = $5,000 (monthly, End), I/Y = 8%, N = 60, P/Y = 12, C/Y = 12
- Result: FV ≈ $367,384 after 5 years. That’s your future pot if you save $5k monthly at ~8% nominal (compounded monthly).
B) Loan payment (solve PMT)
- Inputs: PV = $1,000,000, I/Y = 9%, N = 60, P/Y = 12, C/Y = 12, Payment Timing = End, FV = 0
- Result: PMT ≈ $20,758/month
That’s a rough monthly payment for a 5-year loan at 9%.
C) Time to reach $200,000 (solve N)
- Inputs: PV = 0, PMT = $3,000 (monthly), I/Y = 7%, FV = $200,000, P/Y = 12, C/Y = 12
- Result: N ≈ 56.5 months (~4 years 8½ months).
D) What rate do I need? (solve I/Y)
- Inputs: PV = 0, PMT = $5,000 (monthly), N = 60, FV = $400,000, P/Y = 12, C/Y = 12
- Result: I/Y ≈ 11.2% nominal per year required to hit $400k in 5 years.
E) How much can I borrow? (solve PV)
- Inputs: PMT = $20,000 (monthly), I/Y = 8%, N = 60, FV = 0, P/Y = 12, C/Y = 12
- Result: PV ≈ $986,369
That’s the loan size that fits a $20k/month budget for 5 years at 8%.
Pro Tips (so you don’t get tripped up)
- Signs matter: If you’re paying the loan, your PMT should usually be negative and PV positive (you receive the loan upfront). For savings, deposits (PMT) are often negative and FV positive.
- Match reality: If your bank compounds monthly, set C/Y = 12. If you deposit monthly, set P/Y = 12.
- Payment timing: If you pay at the start of each period, switch to Beginning for a more accurate result.
FAQs
1) What’s the difference between P/Y and C/Y?
P/Y is how often you make payments; C/Y is how often interest compounds. Many products use 12/12, but they can differ.
2) End vs Beginning — which should I choose?
Use End for most loans and regular monthly deposits. Choose Beginning if your payment happens at the start of the period (e.g., rent, some annuities).
3) My result seems off — why?
Most issues come from signs (positive/negative), wrong P/Y or C/Y, or payment timing. Double-check those first.