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 €5 000 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 = €5 000FV = €10 000i = 7%

n = years

2.Easy

You deposit €4 000 in a savings account that pays 3% interest per year, compounded annually. How much is in the account after 3 years? Find the future value FV.

PV = €4 000i = 3%n = 3

FV = €

3.Medium

An annuity pays €1 500 at the end of each year for 14 years. The interest rate is 3% per year. Find the present value PV of the annuity.

A = €1 500i = 3%n = 14

PV = €

4.Medium

You need €15 000 in 8 years. An account pays 5% per year, compounded quarterly. How much must you deposit today? Find the present value PV.

FV = €15 0005% / 4n = 8

PV = €

5.Hard

You borrow €15 000 at 4.2% per year, compounded monthly, and repay €300 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 = €15 000A = €3004.2% / 12

N = payments

6.Hard

You borrow €15 000 at 7.2% per year, compounded monthly, and repay €475 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 = €15 000A = €4757.2% / 12

N = payments

Answer key

1. n = 11 years
2. FV = 4371 €
3. PV = 16944 €
4. PV = 10080 €
5. N = 56 payments
6. N = 36 payments

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