When n = 1, this interest factor equals one for any positive rate of interest.

A factor which can be used to calculate the present value of a series of annuities. The initial deposit, earning interest at the periodic rate (r), perfectly finances a series of (N) consecutive dollar withdrawals. PVIFA is also a variable used when calculating the present value of an ordinary annuity. 

PVIFA................

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I would agree with the experts on

PVIFA

Who am I to doubt the answer of Mr. Jetley, thank you, I have learned something again

Correct answer given by Mr. Emad <<<<<<<<<<<<<<<<<<<

>>>>>> The answer will be PVIFA

AGreed to experts

Thank you