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 = ?€1 000€3 000

You deposit €1 000 at 9% 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 €3 000?

PV = €1 000FV = €3 000i = 9%
n = years
2.Easy
years012€1 500FV = ?

You deposit €1 500 in a savings account that pays 5% interest per year, compounded annually. How much is in the account after 2 years? Find the future value FV.

PV = €1 500i = 5%n = 2
FV = €
3.Medium
periods0123…36511 + EAR = ?21% / 365

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

r = 21%m = 365
EAR = %
4.Medium
years01234€1 000FV = ?

You invest €1 000 at a nominal rate of 4% per year, compounded quarterly. Find the value FV of the investment after 4 years.

PV = €1 0004% / 4n = 4
FV = €
5.Hard
months0123…72€100€100€100FV = ?

You save €100 at the end of every month for 6 years. The account pays 2.4% per year, compounded monthly. How much have you saved at the end? Find FV.

A = €1002.4% / 12N = 72
FV = €
6.Hard
months0123…204€300€300€300FV = ?

You save €300 at the end of every month for 17 years. The account pays 6% per year, compounded monthly. How much have you saved at the end? Find FV.

A = €3006% / 12N = 204
FV = €

Answer key

  1. 1. n = 13 years
  2. 2. FV = 1654 €
  3. 3. EAR = 23.36 %
  4. 4. FV = 1173 €
  5. 5. FV = 7736 €
  6. 6. FV = 105969 €

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