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
years0123€1 500FV = ?

You deposit €1 500 in a savings account that pays 2% interest per year, compounded annually. How much is in the account after 3 years? Find the future value FV.

PV = €1 500i = 2%n = 3
FV = €
2.Easy
years012n = ?€1 000€3 000

You deposit €1 000 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 €3 000?

PV = €1 000FV = €3 000i = 2%
n = years
3.Medium
years0123€12 000FV = ?

You invest €12 000 at a nominal rate of 6% per year, compounded quarterly. Find the value FV of the investment after 3 years.

PV = €12 0006% / 4n = 3
FV = €
4.Medium
years0123…17PV = ?€2 000€2 000€2 000€2 000

An annuity pays €2 000 at the end of each year for 17 years. The interest rate is 4% per year. Find the present value PV of the annuity.

A = €2 000i = 4%n = 17
PV = €
5.Hard
months0123…348€250€250€250FV = ?

You save €250 at the end of every month for 29 years. The account pays 3% per year, compounded monthly. How much have you saved at the end? Find FV.

A = €2503% / 12N = 348
FV = €
6.Hard
months0123…72€20 000A?AAA

A loan of €20 000 is repaid with equal monthly payments over 6 years. The interest rate is 3% per year, compounded monthly. Find the monthly payment A.

P = €20 0003% / 12N = 72
A = €

Answer key

  1. 1. FV = 1592 €
  2. 2. n = 56 years
  3. 3. FV = 14347 €
  4. 4. PV = 24331 €
  5. 5. FV = 138432 €
  6. 6. A = 303.9 €

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