The Orthogonal Frequency Division Multiplexing (OFDM) is also known as multicarrier technology. Wideband digital communications in the recent past have increasingly utilized OFDM. It can withstand difficult channel circumstances, efficiently utilize spectrum resources, decrease ISI, and operate at a high data rate, among many other benefits. It has been used in several wireless and wired communication systems, including fourth generation Long-Term Evolution (4G LTE) mobile communications. The performance assessment and analysis of the OFDM system under Additive White Gaussian Noise (AWGN) channel has been carried out in this work. The factors in which system performance is assessed include the signal quality, Bit Error Rates (BERs), and Signal to Noise Ratios (SNRs) of the received signals. To improve performance while employing multicarrier modulation, the subcarriers must be kept orthogonal to one another, in the process known as OFDM. The sole focus of this study is the performance analysis of PAPR, BER, and SNR utilizing various modulation methods and schemes.