Finance & Investment · Interest
Time Value of Money (TVM) Solver
The five-key financial-calculator solver: enter any four of present value, future value, periodic payment, number of periods and interest rate to find the fifth — with payments at the start or end of each period, and the matching Excel formula.
Your inputs
Quick start — try a typical case
₹ -1 lakh
Money you pay out is negative, money you receive is positive (as in Excel).
₹ -5 thousand
Your result Live
Future Value (FV)
₹11,36,694.20
You receive ₹11,36,694.20
- Rate per Period
- 0.666667%
- Total of All Payments
- -₹6,00,000
- Excel / Google Sheets
- =FV(8%/12, 120, -5000, -100000, 0)
How this is calculated
PV·(1+i)ⁿ + PMT·(1 + i·type)·((1+i)ⁿ − 1)/i + FV = 0
- i
- Rate per period = annual rate ÷ periods per year
- type
- 0 = payments at the end of each period, 1 = at the start
- Signs
- Money paid out is negative and money received positive, so at least one value must differ in sign
Every loan, deposit, SIP or annuity obeys one equation linking five numbers: what you have now (PV), what you pay or receive each period (PMT), how many periods (N), the interest rate, and what's left at the end (FV). This solver uses the same equation and sign convention as Excel and financial calculators, so you can check any of them.
Assumptions & sources
- Constant rate and payment every period; interest compounds once per period.
- Sign convention: cash you pay out is negative, cash you receive is positive.
- 1Excel financial functions (FV, PV, PMT, NPER, RATE, NPV, IRR, XIRR) — the convention spreadsheets and banks use — Microsoft Support
- 2CFA Program Curriculum — Quantitative Methods: The Time Value of Money — CFA Institute
Calculator ID FIN-TVM-001 · version 1.0.0
Common questions
Why are some values negative?
The equation balances money flowing out against money flowing in. A loan you receive is +PV and your payments are −PMT; a deposit you make is −PV and the amount you withdraw later is +FV.
How do I find a loan EMI?
Solve for PMT with PV = the loan amount (positive), FV = 0, the annual rate, 12 periods a year and NPER = months. The answer is negative because you pay it.
How do I find the return on an investment?
Solve for RATE with PV negative (what you invest), PMT for any regular additions (negative) and FV positive (what you get back).