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€10 000FV = ?

You deposit €10 000 in a savings account that pays 3.5% interest per year, compounded annually. How much is in the account after 3 years? Find the future value FV.

PV = €10 000i = 3.5%n = 3
FV = €
2.Easy
years0123456€10 000FV = ?

You deposit €10 000 in a savings account that pays 1.5% interest per year, compounded annually. How much is in the account after 6 years? Find the future value FV.

PV = €10 000i = 1.5%n = 6
FV = €
3.Medium
years0123…11€20 000FV = ?

You invest €20 000 at 2% per year with continuous compounding. Find the value FV after 11 years.

PV = €20 000r = 2%t = 11
FV = €
4.Medium
periods0123…36511 + EAR = ?18% / 365

A credit card charges a nominal interest rate of 18% per year, compounded daily. Find the effective annual rate EAR in percent.

r = 18%m = 365
EAR = %
5.Hard
months0123…96A?AA€20 000

You want €20 000 in 8 years. You save the same amount at the end of every month in an account paying 3.6% per year, compounded monthly. Find the monthly deposit A.

FV = €20 0003.6% / 12N = 96
A = €
6.Hard
months0123…72€8 000A?AAA

A loan of €8 000 is repaid with equal monthly payments over 6 years. The interest rate is 7.2% per year, compounded monthly. Find the monthly payment A.

P = €8 0007.2% / 12N = 72
A = €

Answer key

  1. 1. FV = 11087 €
  2. 2. FV = 10934 €
  3. 3. FV = 24922 €
  4. 4. EAR = 19.72 %
  5. 5. A = 180.1 €
  6. 6. A = 137.2 €

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