Excel PVIFA function

tadXL v2.5

104 new financial functions for Excel 2007, 2010 & 2013

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PVIFA - present value annuity factor

PVIFA - is an acronym for present value interest factor of an ordinary annuity in amount of $1 that makes n payments and pays i% interest. The PVIFA calculation using paper and pencil are time consuming and error prone thus one would desire to find this amount using Excel. But Excel has no PVIFA function not unless we make use of 3rd party tadXL add-in for Excel 2007, 2010, and 2013. There are a large number of financial functions in tadXL including tadPVIFA that find this interest amount. It has some additional features such as use of different compounding frequencies of interest and the use of periods with varying lengths. Additionally you can specify the discounting convention of your choice such as mid-year discounting.

Finding PVIFA in Excel

Up until Excel 2013, there weren't any financial functions in Excel to find the PVIFA - present value annuity factor or any other interest rate factor functions. In spring of 2012, tadXL was released to the software market that offered a large collection of financial functions for Excel 2007, 2010 and 2013. Amongst these financial functions, there was tadPVIFA function to find the present value annuity factor of $1 periodic payments that earn i% interest rate for n number of periods. tadPVIFA function offered features for additional options to include compounding frequencies of interest, to define the length of the payment periods and to use various discounting conventions such as mid-year discounting. As stated earlier Excel had no such financial function up till Excel 2013 so it be surprising the least if Microsoft were to introduce new set of financial functions in the upcoming Excel 2015 or 2016. If they were to do so then more than likely such new financial functions in upcoming Excel would be copies of the financial functions that are found in tadXL add-in and have been available since 2012. But the buck stops here and the author reserves the right to challenge any derivative work based on tadXL financial functions.

Excel PVIFA function

Using tadXL functions such as tadPVIFA finding present value annuity factor in Excel 2007, 2010 and 2013 becomes really easy. Let us now briefly look at this financial functions in tadXL to find PVIFA using Excel:

=tadPVIFA ( rate, nper, compounding, period, distribution )
nper1010101010
rate5%5%5%5%5%
compounding110.08330.08330
period110.08330.08331
distribution10.510.51
PVIFA7.72177.91249.77469.79497.6743
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