The simple interest formula is given with each variable defined. There is one problem for each variable. The last problem asks students to write their own simple interest problem and solve it. The ability to create a problem demonstrates a deeper level of understanding than simply plugging into a formula. Students enjoying sharing the problems they make up and it often helps identify misconceptions.
I can't upload a preview because this is a freebie so here is #1 and #5 from the worksheet:
#1 Ginny plans to put her graduation money in an account and leave it there for 4 years while she goes to college. She receives $950 in graduation money that she puts into an account that earns 4.25% interest. How much will be in Ginny’s account at the end of 4 years? Round to the closest hundredth.
#5 Make up your own simple interest problem. Write both the problem and the solution. See if you can come up with a problem that is more fun than the ones on this worksheet. If so, your problem might replace one of these boring problems.
Works well as an assignment or review.
Feedback is appreciated!