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
years012345€4 000FV = ?

You deposit €4 000 in a savings account that pays 3.5% interest per year, compounded annually. How much is in the account after 5 years? Find the future value FV.

PV = €4 000i = 3.5%n = 5
FV = €
2.Easy
years012€7 500FV = ?

You deposit €7 500 in a savings account that pays 2.5% interest per year, compounded annually. How much is in the account after 2 years? Find the future value FV.

PV = €7 500i = 2.5%n = 2
FV = €
3.Medium
periods01211 + EAR = ?20% / 2

A credit card charges a nominal interest rate of 20% per year, compounded semi-annually. Find the effective annual rate EAR in percent.

r = 20%m = 2
EAR = %
4.Medium
years0123…8€5 000FV = ?

You invest €5 000 at a nominal rate of 4.8% per year, compounded quarterly. Find the value FV of the investment after 8 years.

PV = €5 0004.8% / 4n = 8
FV = €
5.Hard
months0123…36A?AA€75 000

You want €75 000 in 3 years. You save the same amount at the end of every month in an account paying 3% per year, compounded monthly. Find the monthly deposit A.

FV = €75 0003% / 12N = 36
A = €
6.Hard
months01…60…240€150 000AB = ?A2.4% / 12

A mortgage of €150 000 is repaid with equal monthly payments over 20 years at 2.4% per year, compounded monthly. How much is still owed just after the payment at the end of year 5? Find the outstanding balance B.

P = €150 0002.4% / 12N = 240k = 60
B = €

Answer key

  1. 1. FV = 4751 €
  2. 2. FV = 7880 €
  3. 3. EAR = 21 %
  4. 4. FV = 7324 €
  5. 5. A = 1994 €
  6. 6. B = 118951 €

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