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
years012€2 500FV = ?

You deposit €2 500 in a savings account that pays 6% interest per year, compounded annually. How much is in the account after 2 years? Find the future value FV.

PV = €2 500i = 6%n = 2
FV = €
2.Easy
years012n = ?€1 000€2 000

You deposit €1 000 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 €2 000?

PV = €1 000FV = €2 000i = 3%
n = years
3.Medium
years0123…12€10 000FV = ?

You invest €10 000 at 5% per year with continuous compounding. Find the value FV after 12 years.

PV = €10 000r = 5%t = 12
FV = €
4.Medium
years012345€10 000FV = ?

You invest €10 000 at 6% per year with continuous compounding. Find the value FV after 5 years.

PV = €10 000r = 6%t = 5
FV = €
5.Hard
months0123…48A?AA€50 000

You want €50 000 in 4 years. You save the same amount at the end of every month in an account paying 6% per year, compounded monthly. Find the monthly deposit A.

FV = €50 0006% / 12N = 48
A = €
6.Hard
months01…216…360€300 000AB = ?A4.2% / 12

A mortgage of €300 000 is repaid with equal monthly payments over 30 years at 4.2% per year, compounded monthly. How much is still owed just after the payment at the end of year 18? Find the outstanding balance B.

P = €300 0004.2% / 12N = 360k = 216
B = €

Answer key

  1. 1. FV = 2809 €
  2. 2. n = 24 years
  3. 3. FV = 18221 €
  4. 4. FV = 13499 €
  5. 5. A = 924.3 €
  6. 6. B = 165718 €

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