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€2 500FV = ?

You deposit €2 500 in a savings account that pays 4% interest per year, compounded annually. How much is in the account after 3 years? Find the future value FV.

PV = €2 500i = 4%n = 3
FV = €
2.Easy
years0123…10€5 000FV = ?

You deposit €5 000 in a savings account that pays 2% interest per year, compounded annually. How much is in the account after 10 years? Find the future value FV.

PV = €5 000i = 2%n = 10
FV = €
3.Medium
years012€2 000FV = ?

You invest €2 000 at a nominal rate of 2% per year, compounded monthly. Find the value FV of the investment after 2 years.

PV = €2 0002% / 12n = 2
FV = €
4.Medium
periods0123411 + EAR = ?22% / 4

A credit card charges a nominal interest rate of 22% per year, compounded quarterly. Find the effective annual rate EAR in percent.

r = 22%m = 4
EAR = %
5.Hard
months01…192…360€250 000AB = ?A2.4% / 12

A mortgage of €250 000 is repaid with equal monthly payments over 30 years at 2.4% per year, compounded monthly. How much is still owed just after the payment at the end of year 16? Find the outstanding balance B.

P = €250 0002.4% / 12N = 360k = 192
B = €
6.Hard
months0123…96A?AA€25 000

You want €25 000 in 8 years. You save the same amount at the end of every month in an account paying 6% per year, compounded monthly. Find the monthly deposit A.

FV = €25 0006% / 12N = 96
A = €

Answer key

  1. 1. FV = 2812 €
  2. 2. FV = 6095 €
  3. 3. FV = 2082 €
  4. 4. EAR = 23.88 %
  5. 5. B = 138983 €
  6. 6. A = 203.5 €

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