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
years0123456€10 000FV = ?

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

PV = €10 000i = 6%n = 6
FV = €
2.Easy
years0123…11€500FV = ?

You deposit €500 in a savings account that pays 7% interest per year, compounded annually. How much is in the account after 11 years? Find the future value FV.

PV = €500i = 7%n = 11
FV = €
3.Medium
years0123…8€20 000FV = ?

You invest €20 000 at a nominal rate of 2% per year, compounded quarterly. Find the value FV of the investment after 8 years.

PV = €20 0002% / 4n = 8
FV = €
4.Medium
periods0123…36511 + EAR = ?15% / 365

A credit card charges a nominal interest rate of 15% per year, compounded daily. Find the effective annual rate EAR in percent.

r = 15%m = 365
EAR = %
5.Hard
months01…132…240€200 000AB = ?A3.6% / 12

A mortgage of €200 000 is repaid with equal monthly payments over 20 years at 3.6% per year, compounded monthly. How much is still owed just after the payment at the end of year 11? Find the outstanding balance B.

P = €200 0003.6% / 12N = 240k = 132
B = €
6.Hard
months0123…84€10 000AAAA3.6% / 12, I = ?

A loan of €10 000 is repaid with equal monthly payments over 7 years at 3.6% per year, compounded monthly. How much interest I is paid in total over the life of the loan?

P = €10 0003.6% / 12N = 84
I = €

Answer key

  1. 1. FV = 14185 €
  2. 2. FV = 1052 €
  3. 3. FV = 23461 €
  4. 4. EAR = 16.18 %
  5. 5. B = 107816 €
  6. 6. I = 1328 €

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