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
years01234€4 000FV = ?

You deposit €4 000 in a savings account that pays 3% interest per year, compounded annually. How much is in the account after 4 years? Find the future value FV.

PV = €4 000i = 3%n = 4
FV = €
2.Easy
years0123…13PV = ?€5 000

You will receive €5 000 in 13 years. The interest rate is 7% per year, compounded annually. What is this amount worth today? Find the present value PV.

FV = €5 000i = 7%n = 13
PV = €
3.Medium
periods01211 + EAR = ?15% / 2

A credit card charges a nominal interest rate of 15% per year, compounded semi-annually. Find the effective annual rate EAR in percent.

r = 15%m = 2
EAR = %
4.Medium
years0123…11€10 000FV = ?

You invest €10 000 at 8% per year with continuous compounding. Find the value FV after 11 years.

PV = €10 000r = 8%t = 11
FV = €
5.Hard
months0123…72€15 000AAAA5.4% / 12, I = ?

A loan of €15 000 is repaid with equal monthly payments over 6 years at 5.4% per year, compounded monthly. How much interest I is paid in total over the life of the loan?

P = €15 0005.4% / 12N = 72
I = €
6.Hard
months0123…N = ?€5 000€150€150€150€1503.6% / 12

You borrow €5 000 at 3.6% per year, compounded monthly, and repay €150 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 = €5 000A = €1503.6% / 12
N = payments

Answer key

  1. 1. FV = 4502 €
  2. 2. PV = 2075 €
  3. 3. EAR = 15.56 %
  4. 4. FV = 24109 €
  5. 5. I = 2594 €
  6. 6. N = 36 payments

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