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
years012345€1 000€1 310

An investment of €1 000 grows to €1 310 in 5 years with annual compounding. Find the annual interest rate i in percent.

PV = €1 000FV = €1 310n = 5
i = %
2.Easy
years012n = ?€2 000€5 000

You deposit €2 000 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 €5 000?

PV = €2 000FV = €5 000i = 2%
n = years
3.Medium
years012345€10 000FV = ?

You invest €10 000 at 6% per year with continuous compounding. Find the value FV after 5 years.

PV = €10 000r = 6%t = 5
FV = €
4.Medium
years01234PV = ?€15 000

You need €15 000 in 4 years. An account pays 6% per year, compounded quarterly. How much must you deposit today? Find the present value PV.

FV = €15 0006% / 4n = 4
PV = €
5.Hard
months0123…48A?AA€100 000

You want €100 000 in 4 years. You save the same amount at the end of every month in an account paying 3% per year, compounded monthly. Find the monthly deposit A.

FV = €100 0003% / 12N = 48
A = €
6.Hard
months0123…N = ?€20 000€350€350€350€3507.2% / 12

You borrow €20 000 at 7.2% per year, compounded monthly, and repay €350 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 = €20 000A = €3507.2% / 12
N = payments

Answer key

  1. 1. i = 5.549 %
  2. 2. n = 47 years
  3. 3. FV = 13499 €
  4. 4. PV = 11820 €
  5. 5. A = 1963 €
  6. 6. N = 71 payments

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