Calculate the present value of a future lump sum, or of a series of periodical deposits, at a given interest rate.
Find what a single future lump sum is worth today.
Find what a recurring series of deposits is worth today.
Present value is the flip side of compound interest: instead of asking what money grows into, it asks what a future amount is worth right now, given that money in hand could otherwise be earning interest. The higher the interest rate or the further out the future payment, the less that future money is worth today.
The first calculator above discounts a single future amount back to today. The second discounts an entire series of equal, recurring deposits — useful for valuing things like an annuity, a pension stream, or a planned savings habit in today's dollars.
Use whatever rate reflects the return you could reasonably earn elsewhere on your money — often called the discount rate. A higher assumed rate always produces a lower present value.
Yes — deposits made at the beginning of each period earn one extra period of interest compared to deposits made at the end, so present value (and future value) will be slightly higher under the "beginning" option.
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