What is the “Compound Interest Practice Worksheet ”?
The “Compound Interest Practice Worksheet (PDF with Answer Key)” is a worksheet about solving for the compound amount of a loaned or saved amount. This worksheet focuses on the future value of a money after applying the compound interest.
What is compound interest?
Compound interest is when you receive interest on both your interest income and your savings.
How can the “Compound Interest Practice Worksheet ” help you?
The “Compound Interest Practice Worksheet (PDF with Answer Key)” can help you practice your skill in solving for the compound amount. It will help you practice how to identify the values to be substituted in the formula in finding the compound amount.
Instructions on how to use the “Compound Interest Practice Worksheet”
There are three parts in the “Compound Interest Practice Worksheet (PDF with Answer Key)”. The first part is the introduction of the formula to be used in solving for the compound amount. The next part would be the examples on how to use this formula in solving for the compound amount. Lastly, there is an activity provided for you to answer. You can check your answers using the answer provided.
Conclusion
Understanding compound interest is a crucial life skill for students to have, especially if they are opening their first savings account or applying for a vehicle loan. Learning how to calculate compound interest can assist students in the future in making informed financial decisions.