GlenCalc

Finance calculator (TVM)

Works like the TVM keys on a financial calculator. Enter four of the five values and solve for the fifth. Use a minus sign for money you pay out (deposits, loan payments) and plus for money you receive.

Your answer

FV31,089.27
N10
RATE6
PV-10,000
PMT-1,000

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How we worked it out

Updated as you change the numbers.

  1. The five values satisfy PV × (1 + r)ᴺ + PMT × ((1 + r)ᴺ − 1) ÷ r + FV = 0 (× (1 + r) on the PMT term for payments at the start).
  2. Rearranged for FV: 31,089.2719.

Method and assumptions

All five TVM variables are linked by one equation with a cash-flow sign convention, the same one financial calculators use. PV, PMT and FV can be solved directly; the rate and the number of periods are found by a numerical search. Make sure the rate and the periods use the same time unit: for monthly payments, divide an annual rate by 12 and count months.

Questions

How much do I have after investing $10,000 plus $1,000 a year for 10 years at 6%?

N = 10, I/Y = 6, PV = −10,000, PMT = −1,000: FV = $31,089.27.

Sources

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