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 worksheetPractise 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
years012n = ?€4 000€12 000

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 €12 000?

PV = €4 000FV = €12 000i = 3%
n = years
2.Easy
years012n = ?€4 000€10 000

You deposit €4 000 at 7% 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 €10 000?

PV = €4 000FV = €10 000i = 7%
n = years
3.Medium
years0123€8 000FV = ?

You invest €8 000 at a nominal rate of 4.8% per year, compounded quarterly. Find the value FV of the investment after 3 years.

PV = €8 0004.8% / 4n = 3
FV = €
4.Medium
periods0123411 + EAR = ?18% / 4

A credit card charges a nominal interest rate of 18% per year, compounded quarterly. Find the effective annual rate EAR in percent.

r = 18%m = 4
EAR = %
5.Hard
months0123…240€150€150€150FV = ?

You save €150 at the end of every month for 20 years. The account pays 4.2% per year, compounded monthly. How much have you saved at the end? Find FV.

A = €1504.2% / 12N = 240
FV = €
6.Hard
months0123…120€150€150€150FV = ?

You save €150 at the end of every month for 10 years. The account pays 3% per year, compounded monthly. How much have you saved at the end? Find FV.

A = €1503% / 12N = 120
FV = €

Answer key

  1. 1. n = 38 years
  2. 2. n = 14 years
  3. 3. FV = 9231 €
  4. 4. EAR = 19.25 %
  5. 5. FV = 56270 €
  6. 6. FV = 20961 €

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