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.

New worksheet Practise online with hints

For teachers: free to print, copy and use in class. Every new worksheet has new values and its own answer key. A link to ExamProblems on your course page is appreciated.

Name: ____________________ Date: ____________

1.Easy

You deposit €4 000 at 3% 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 = 3%

n = years

2.Easy

You deposit €5 000 in a savings account that pays 4.5% interest per year, compounded annually. How much is in the account after 7 years? Find the future value FV.

PV = €5 000i = 4.5%n = 7

FV = €

3.Medium

An annuity pays €500 at the end of each year for 18 years. The interest rate is 8% per year. Find the present value PV of the annuity.

A = €500i = 8%n = 18

PV = €

4.Medium

You need €25 000 in 4 years. An account pays 3% per year, compounded quarterly. How much must you deposit today? Find the present value PV.

FV = €25 0003% / 4n = 4

PV = €

5.Hard

A loan of €20 000 is repaid with equal monthly payments over 4 years at 3.6% per year, compounded monthly. How much interest I is paid in total over the life of the loan?

P = €20 0003.6% / 12N = 48

I = €

6.Hard

You deposit €6 000 at the start of every year for 26 years, the first deposit today. The account pays 3% per year. How much is in the account at the end of year 26? Find FV.

A = €6 000i = 3%n = 26

FV = €

Answer key

1. n = 14 years
2. FV = 6804 €
3. PV = 4686 €
4. PV = 22183 €
5. I = 1504 €
6. FV = 238258 €

Full step-by-step solutions: practise this topic on examproblems.com.