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 = ?€10 000€30 000

You deposit €10 000 at 2% 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 €30 000?

PV = €10 000FV = €30 000i = 2%
n = years
2.Easy
years0123456€2 000FV = ?

You deposit €2 000 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 = €2 000i = 1.5%n = 6
FV = €
3.Medium
periods01211 + EAR = ?22% / 2

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

r = 22%m = 2
EAR = %
4.Medium
years01234567€2 000FV = ?

You invest €2 000 at a nominal rate of 4.8% per year, compounded monthly. Find the value FV of the investment after 7 years.

PV = €2 0004.8% / 12n = 7
FV = €
5.Hard
months0123…300€250€250€250FV = ?

You save €250 at the end of every month for 25 years. The account pays 6% per year, compounded monthly. How much have you saved at the end? Find FV.

A = €2506% / 12N = 300
FV = €
6.Hard
months0123…240€150 000A?AAA

A loan of €150 000 is repaid with equal monthly payments over 20 years. The interest rate is 4.2% per year, compounded monthly. Find the monthly payment A.

P = €150 0004.2% / 12N = 240
A = €

Answer key

  1. 1. n = 56 years
  2. 2. FV = 2187 €
  3. 3. EAR = 23.21 %
  4. 4. FV = 2797 €
  5. 5. FV = 173248 €
  6. 6. A = 924.9 €

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