Simple Interest Activity

The idea behind this activity is for students to be able to compare different simple interest rates given by various lenders. They will also work out the maximum and minimum totals and their difference for several items

The students will follow instructions to complete the table for borrowing money to buy a car with the simple interest formula (in two stages).

They will also format the table and work out the difference between the maximum and minimum totals.

They will then be expected to complete the other two tables for buying a television and a furniture suite on their own, using the first table as an example.

Finally they will carry out a simple monthly budget calculation

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Activity instructions (pdf - 515kb)

MS Excel® worksheet (16kb)

CSV worksheet (1kb - if you do not have a spreadsheet application that can open MS Excel® files)

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