The formula used to calculate compound interest is m p 1 i n. Simple interest worksheet no.
Worksheet november 06 2018 02 34.
Simple and compound interest worksheet answers. Simple and compound interest. 20 scaffolded questions that start relatively easy and end with some real challenges. Free worksheet pdf and answer key on compound interest.
Students use compound interest to solve each word problem focusing on the principal interest rate and time. 3 find the amount owed on an. Simple and compound interest worksheet 1 write as decimals.
Simple interest i 5 100 prn compound interest a 5 1 100 p r n 1 final amount i 5 a 2 p interest where p is the principal r is the interest rate per period expressed as a percentage n is the number of periods use 1 year 5 52 weeks 5 365 days. 1 34 100 at 4 for 3 years 2 210 at 8 for 7 years. 1 find the interest on a used car loan of 5000 at a rate of 16 for a period of 8 months.
Create your own worksheets like this one with infinite pre algebra. The rate of interest is same for both compound interest and simple interest and it is compounded annually. Converting customary units worksheet.
M is the final amount including the principal p is the principal amount the original sum borrowed or invested i is the rate of interest per year and n is the number of years invested. The compound interest and simple interest on a certain sum for 2 years is 1230 and 1200 respectively. Simple and compound interest worksheet answers.
You can have an entire worksheet devoted to simply asking children for their thoughts on the formula. A 4 b 7 8 c 10 3 d 16 e 20 f 5 12 2 how many months in. 2 find the interest earned on an investment of 10 000 into a money market account that pays a simple interest rate of 1 75 over a 39 wk period.
2 1 practice simple and compound interest. Simple and compound interest date period use simple interest to find the ending balance. These exercises will help homeschoolers learn how to calculate the rate of return on investments and illustrate how interest can accrue over time.
In this exercise students will answer 10 word problems about calculating interest. Some of the worksheets below are compound interest worksheet the general form for compound interest equation 13 compound interest exam style questions compound interest formula several examples with practice problems. There are many worksheets for children that require simple and compound interest formulas but you can make a worksheet that has all the information you need and provide answers that are easy to understand.
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