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€4 000FV = ?

You deposit €4 000 in a savings account that pays 4.5% interest per year, compounded annually. How much is in the account after 3 years? Find the future value FV.

PV = €4 000i = 4.5%n = 3
FV = €
2.Easy
years012345€8 000€11 750

An investment of €8 000 grows to €11 750 in 5 years with annual compounding. Find the annual interest rate i in percent.

PV = €8 000FV = €11 750n = 5
i = %
3.Medium
years0123…20€1 000FV = ?

You invest €1 000 at 3% per year with continuous compounding. Find the value FV after 20 years.

PV = €1 000r = 3%t = 20
FV = €
4.Medium
periods0123411 + EAR = ?21% / 4

A credit card charges a nominal interest rate of 21% per year, compounded quarterly. Find the effective annual rate EAR in percent.

r = 21%m = 4
EAR = %
5.Hard
months0123…264€300€300€300FV = ?

You save €300 at the end of every month for 22 years. The account pays 6% per year, compounded monthly. How much have you saved at the end? Find FV.

A = €3006% / 12N = 264
FV = €
6.Hard
years0123…10€6 000€6 000€6 000FV = ?

You deposit €6 000 at the start of every year for 10 years, the first deposit today. The account pays 7% per year. How much is in the account at the end of year 10? Find FV.

A = €6 000i = 7%n = 10
FV = €

Answer key

  1. 1. FV = 4565 €
  2. 2. i = 7.992 %
  3. 3. FV = 1822 €
  4. 4. EAR = 22.71 %
  5. 5. FV = 163868 €
  6. 6. FV = 88702 €

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