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EDITABLE! We all teach a little differently. I love having the ability to tweak things so they are perfect for my style and my classes and that is what you get here. The simple interest formula is given with each variable defined. There is one problem for each variable. The last problem asks students to create and solve their own problem. The ability to create a problem demonstrates a deeper level of understanding than simply plugging into a formula. I like this for two reasons. It often helps me identify student misconceptions and also, students LOVE to share their work. 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.
I hope you find this worksheet helpful. I have similar worksheets for compound interest and compounding continuously.