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
years01234567€1 500FV = ?

You deposit €1 500 in a savings account that pays 5% interest per year, compounded annually. How much is in the account after 7 years? Find the future value FV.

PV = €1 500i = 5%n = 7
FV = €
2.Easy
years0123€1 000FV = ?

You deposit €1 000 in a savings account that pays 4.5% interest per year, compounded annually. How much is in the account after 3 years? Find the future value FV.

PV = €1 000i = 4.5%n = 3
FV = €
3.Medium
years0123€20 000FV = ?

You invest €20 000 at a nominal rate of 5% per year, compounded quarterly. Find the value FV of the investment after 3 years.

PV = €20 0005% / 4n = 3
FV = €
4.Medium
periods0123…36511 + EAR = ?20% / 365

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

r = 20%m = 365
EAR = %
5.Hard
months0123…N = ?€15 000€300€300€300€3005.4% / 12

You borrow €15 000 at 5.4% per year, compounded monthly, and repay €300 at the end of every month. How many months does it take until the loan is repaid (the last payment may be smaller)? Give the number of payments N.

P = €15 000A = €3005.4% / 12
N = payments
6.Hard
months0123…180€50€50€50FV = ?

You save €50 at the end of every month for 15 years. The account pays 7.2% per year, compounded monthly. How much have you saved at the end? Find FV.

A = €507.2% / 12N = 180
FV = €

Answer key

  1. 1. FV = 2111 €
  2. 2. FV = 1141 €
  3. 3. FV = 23215 €
  4. 4. EAR = 22.13 %
  5. 5. N = 57 payments
  6. 6. FV = 16127 €

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