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 000FV = ?

You deposit €2 000 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 = €2 000i = 3.5%n = 3
FV = €
2.Easy
years012n = ?€10 000€30 000

You deposit €10 000 at 3% 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 = 3%
n = years
3.Medium
years0123…18€2 000FV = ?

You invest €2 000 at 8% per year with continuous compounding. Find the value FV after 18 years.

PV = €2 000r = 8%t = 18
FV = €
4.Medium
periods0123…36511 + EAR = ?21% / 365

A credit card charges a nominal interest rate of 21% per year, compounded daily. Find the effective annual rate EAR in percent.

r = 21%m = 365
EAR = %
5.Hard
months0123…36€20 000AAAA6% / 12, I = ?

A loan of €20 000 is repaid with equal monthly payments over 3 years at 6% per year, compounded monthly. How much interest I is paid in total over the life of the loan?

P = €20 0006% / 12N = 36
I = €
6.Hard
years0123…26€6 000€6 000€6 000FV = ?

You deposit €6 000 at the start of every year for 26 years, the first deposit today. The account pays 8% per year. How much is in the account at the end of year 26? Find FV.

A = €6 000i = 8%n = 26
FV = €

Answer key

  1. 1. FV = 2217 €
  2. 2. n = 38 years
  3. 3. FV = 8441 €
  4. 4. EAR = 23.36 %
  5. 5. I = 1904 €
  6. 6. FV = 518105 €

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