See all 9th-12th Grades Standards
Simple Interest

Simple Interest

Worksheet • 30 min of learning
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Here's how Simple Interest aligns with curriculum standards in Washington DC. Use the filters to change the location, set of standards, and grade level.

Spending

Skills Standards

SP.S.5: Interpret the cost of purchasing or leasing a new or used vehicle, including down payment, interest rate, loans and registration.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Simple Interest
Students will determine total interest that will be paid over the lifetime of loan used to purchase a vehicle.

Credit

Skills Standards

CR.S.1: Examine the cost of credit using the Annual Percentage Rate (APR), Effective Annual Rate (EAR) or the actual rate to be paid based on the period of compounding and other terms in the contract for a credit card or loan for purchases.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Simple Interest
Students will compare the cost of borrowing $1,000 using consumer credit options that differ in rates and fees.

CR.S.2: Compare the risks and benefits of different mortgage payment plans depending on the amount borrowed, the repayment period and the interest rate, which can be fixed or adjustable.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Simple Interest
Students will compare monthly mortgage payments for loans that differ in repayment period, amount borrowed and interest rate

CR.S.3: Assess the impact of down payments and interest rates on the amount needed to borrow and pay overtime for major financial transactions.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Simple Interest
Students will compare the monthly loan payment and potential additional fees with a 10% down payment versus a 20% down payment for a specific loan amount.