Math 12
TVM Solver Worksheet
Name:________________________
You will need to use an online TVM solver (unless you have a graphing calculator, but the online
solver is easier to use). Type “online TVM solver” into your search engine. I prefer the solver at
“Zenwealth”. Please circle the box which you solved for.
1. Heather decides to invest $3000 into her savings account and leave it there for 35 years. Her bank
has given her an interest rate of 6.4% compounded quarterly. How much will she have in 35 years?
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I%
PV
PMT
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P/Y
C/Y
How much interest did she earn?
2. Steve has inherited $10,000. He puts it into a bank account earning 5% interest compounded
monthly. Every month, he wants to take out a monthly payment, and he will do this until his bank
account is empty. If he does this for 4 years, how much will his monthly payment be?
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P/Y
C/Y
3. Mark just bought a car for $7375. He will finance the car by paying monthly payments of $250
while being charged 6% interest per month. How long will it take Mark to pay off the car?
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How much interest did Mark pay?
PMT
FV
P/Y
C/Y
4. Mary also just bought a car. She tells you that she is paying $189 a month for 4 years and is being
charged 5.2% interest per month. How much did her car cost?
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PV
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P/Y
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How much interest did Mary pay?
5. After learning about Finance math is his Grade 12 College class, Nicholas wants to begin saving
money. He puts $2000 into a bank account today and then deposits $50 a week for 10 years. If his bank
account gives him 3.2% interest compounded weekly, how much will Nicholas have in 10 years?
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PV
PMT
FV
P/Y
C/Y
How much interest did Nicholas earn?
6. Emily knows that she will need to buy a car in two years. She wants to have $8000 in the bank so
she can buy a decent used car. Emily decides to start saving by putting money in the bank every week.
If her bank account gives her 4% compounded weekly, how much will she need to put in every week?
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P/Y
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7. Wesley wants to save for a down payment on a house. He knows that if he is good with his money,
he can deposit $1000 every month for 3 years. If his account earns 6% compounded monthly, how
much will he have in 3 years? How much interest did Wesley earn?
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P/Y
C/Y
8. Gary just bought a car for $12000. He will finance the car for 3 years at an interest rate of 3.78%.
What will Gary's monthly payment be?
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PV
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P/Y
C/Y
How much interest did Gary pay?
9. Lisa puts $250 into her bank every month, which earns 5% interest compounded monthly. Lisa needs
$10,000. How long will it take to achieve her goal?
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P/Y
C/Y
10. . Luke needs a new stove for his kitchen. He buys a $2500 stove. He pays $500 every 6 months and
is charged an interest rate of 11%. How long will it take to pay off the stove?
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PMT
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P/Y
C/Y
How much interested did Luke pay?
11. In 12 years, Tim wants to have $50,000. He is able to commit to putting $35 into the bank account
every week which earns 6.2% compounded weekly. How much does Tim need to put into his bank
account today to achieve his goal?
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P/Y
C/Y
(This one is a little tricky! Ask for help!)
12. Kate just finished college and she now has debts of $30,000. She is told that she must pay $350 a
month for 10 years to pay off the loan. What interest rate is she being charged?
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I%
PV
How much interest was Kate charged?
PMT
FV
P/Y
C/Y