What are the key differences between the NIV and NKJV translations of the Bible?

The key differences between the NIV and NKJV translations of The Bible lie in their approach to translation. The NIV aims for a balance between Word-for-Word and thought-for-thought translation, making it more readable but potentially less literal. The NKJV, on the other hand, leans more towards a formal equivalence approach, striving for a more literal translation of the original text. This results in the NIV being more contemporary and easier to understand, while the NKJV maintains a more traditional and formal tone.