These activity sheets will teach your students how to use a formula to calculate interest.

#### When we borrow money for someone or something (like a bank) we have to pay fee. This fee is called interest. How much interest we will have to pay can vary due to many factors including how much we borrowed, how long we are taking to pay it back, and the general country's economic situation. When the economy is doing poorly people are less likely to loan out money, so the fee will be higher and vice versa when the economy is doing well.

Interest is one of the most important aspects of money borrowing and lending. When one entity borrows money from a lender, they must pay a fee when repaying the borrowed amount. The fee is equal to a percentage of the amount borrowed. There are two types of interests; simple and compound. Simple interest is one which depends upon the principal amount of the loan or deposit. To calculate simple interest, you need to use the following formula; I = PRT. Here; I is the interest, P is the principal amount, R is the interest rate expressed in percentage, and T is the time period for the loan. It is a straightforward way to calculate the total interest that has to be paid. Compound interest on the other hand is one which depends not only on the principal loan amount but also on the interest that is accumulated on it on a specific period of time. Calculating compound interest is a bit complex in comparison to calculating the simple interest. The general formula to calculate compound interest is; Compound Interest=[P(1 + i)n ] - P. Here; P is the principal amount, I is the interest rate, and n is the number of compounding periods. These worksheets explain how to calculate simple interest. While this may seem an endless task it will hold a great deal of importance in your future life when banking and buying a home.

# Calculating Interest Worksheets

## Calculating Interest Lesson

This worksheet explains how to calculate this measure through a series of variables. A sample problem is solved.

## Lesson and Practice

You are given a principal balance, a length of a loan, and an interest rate. A sample problem is solved and two practice problems are provided.

## Worksheet

Given terms, students will missing variables that are missing from a loan. Ten problems are provided.

## Practice

Students will practice calculating this skill of manipulating variables. Ten problems are provided.

## Drill

We will work with the skills that are found in this topic. Eight problems are provided.

## Warm Up

A great way to review or introduce the topic. Three problems are provided.

## Interest Calculation Lesson

From this formula we can calculate the simple interest. A sample problem is solved, and two practice problems are provided.

## Worksheet

Given the principal, interest, and term students will use calculate interest. Ten problems are provided.

## Practice

Students will practice calculating all the missing variables. Ten problems are provided.

## Calculation Review and Practice

The concept of how to calculate these measures are reviewed. A sample problem is solved. Six practice problems are provided.

## Quiz

Students will demonstrate their proficiency with this skill. Ten problems are provided.

## Check

Students will use the principal and terms to calculate all the missing values. Three problems are provided, and space is included for students to copy the correct answer when given.

## Calculating Interest (More than One Year) Worksheet

Students will use a series of set terms to find the missing values. Ten problems are provided.

## Basic Skills Worksheet

Students will work through a series of exercises to get a better handle on the skills required. Ten problems are provided.

## Intermediate Skills Worksheet

The values that are stated are larger and require more attention to detail. Ten problems are provided.

## Intermediate Skills Practice

This gets a little harder on the amount of calculations and thinking required.

## Intermediate Skills Drill

This drill set is a great way to hammer this skill home.

## Using One Year Worksheet

Everything here is based on the one year time scale.

## Year Practice

Another practice sheet to get you headed in the right frame of mind.

## Basic Skills

This is the starter series to get you ready for compound interest sets.

## Drill

Put everything together that is set to go and put it all on the single year count.

## Skill Check

See how far you have come with this topic.

## Simple Interest Lesson

Fill in the chart for all the missing values.

## Lesson and Practice

This example is worked through top to bottom: Kurt deposits \$2500 in his account that will earn him 7.25% interest annually. What amount will he get after 2 1/2 years? A sample problem is solved and two practice problems are provided.

## Calculating Lesson

This worksheet explains how to figure out all the missing values. A sample problem is solved, and two practice problems are provided.

## Worksheet

You will put all of your thoughts together to work on these concepts. Ten problems are provided.

## Practice

Take your time to find any value that is absent. Ten problems are provided.

## Review and Practice

The concept of how to figure out these values is reviewed. A sample problem is solved. Six practice problems are provided.

## Quiz

Students will demonstrate their proficiency with this concept. Ten problems are provided.

## Check

This is a wonderful way to check where you stand with these skills. Three problems are provided, and space is included for students to copy the correct answer when given.

## Simple Interest Worksheet

Given the necessary information, students will finf all the missing values. Ten problems are provided.

## Practice

You will solve problems like this: Mr. Buckle deposits \$3500 in a savings account that earns him interest at 11.25% annually, and another \$1200 in an account with 14% annual interest. How many dollars he earns in total if he deposits both amount for 3 years?

## Show Off

This is a chart filled with missing parts that you are tasked with determining.

## Warm Up

Complete the chart by using the pieces of this problem: Nina deposits \$13,000 in her account at 12% yearly interest. Her friend Anna does the same with \$11,550 with 14.5% yearly interest. How much will they have? Use the given information to fill the chart.

## Lesson

All of the key terms are broken down for you here. For example: Principal: The money borrowed or lent out for a certain period is called the principal or sum.

## Lesson and Practice

We look at these formulas that help us better understand the core concepts of this topic. A sample problem is solved and two practice problems are provided.

## Simple Interest Calculation Worksheet

Given all the needed terms you will track down this main ideas presented here. Ten problems are provided.

## Practice

Students will practice all the skills that we have presented here. Ten problems are provided.

## Drill

The more practice that you have, the better. Eight problems are provided.

## Warm Up

You are given either the principal invested, interest rate, amount of time, or interest it has grown over. One of those you will be asked to find.