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
years012n = ?€2 000€6 000

You deposit €2 000 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 €6 000?

PV = €2 000FV = €6 000i = 7%
n = years
2.Easy
years0123…9€1 000FV = ?

You deposit €1 000 in a savings account that pays 4% interest per year, compounded annually. How much is in the account after 9 years? Find the future value FV.

PV = €1 000i = 4%n = 9
FV = €
3.Medium
periods0123…1211 + EAR = ?20% / 12

A credit card charges a nominal interest rate of 20% per year, compounded monthly. Find the effective annual rate EAR in percent.

r = 20%m = 12
EAR = %
4.Medium
years0123€3 000FV = ?

You invest €3 000 at a nominal rate of 3.6% per year, compounded monthly. Find the value FV of the investment after 3 years.

PV = €3 0003.6% / 12n = 3
FV = €
5.Hard
months0123…360€100€100€100FV = ?

You save €100 at the end of every month for 30 years. The account pays 2.4% per year, compounded monthly. How much have you saved at the end? Find FV.

A = €1002.4% / 12N = 360
FV = €
6.Hard
months0123…156€50€50€50FV = ?

You save €50 at the end of every month for 13 years. The account pays 7.2% per year, compounded monthly. How much have you saved at the end? Find FV.

A = €507.2% / 12N = 156
FV = €

Answer key

  1. 1. n = 17 years
  2. 2. FV = 1423 €
  3. 3. EAR = 21.94 %
  4. 4. FV = 3342 €
  5. 5. FV = 52648 €
  6. 6. FV = 12855 €

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