Time value of money worksheet with answers

Free printable Time value of money worksheet: 6 problems from easy to exam level, with an answer key. Print it or save it as a PDF.

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Name: ____________________ Date: ____________

1.Easy

You deposit €4 000 at 8% interest per year, compounded annually (interest is added at the end of each year). After how many whole years n does the balance first reach at least €6 000?

PV = €4 000FV = €6 000i = 8%

n = years

2.Easy

You deposit €10 000 at 2% interest per year, compounded annually (interest is added at the end of each year). After how many whole years n does the balance first reach at least €25 000?

PV = €10 000FV = €25 000i = 2%

n = years

3.Medium

You need €10 000 in 4 years. An account pays 2% per year, compounded quarterly. How much must you deposit today? Find the present value PV.

FV = €10 0002% / 4n = 4

PV = €

4.Medium

You need €50 000 in 3 years. An account pays 3% per year, compounded monthly. How much must you deposit today? Find the present value PV.

FV = €50 0003% / 12n = 3

PV = €

5.Hard

You borrow €5 000 at 5.4% per year, compounded monthly, and repay €100 at the end of every month. How many months does it take until the loan is repaid (the last payment may be smaller)? Give the number of payments N.

P = €5 000A = €1005.4% / 12

N = payments

6.Hard

A loan of €8 000 is repaid with equal monthly payments over 4 years. The interest rate is 4.2% per year, compounded monthly. Find the monthly payment A.

P = €8 0004.2% / 12N = 48

A = €

Answer key

1. n = 6 years
2. n = 47 years
3. PV = 9233 €
4. PV = 45702 €
5. N = 57 payments
6. A = 181.3 €

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