Download Interest Rate (International Day of Banks Themed) Math Worksheets
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Who are these worksheets for?
This pack is suitable for learners aged 11-12 years old or 7th graders (USA). The content covers fact files and relevant basic and advanced activities involving interest rate.
What is International Day of Banks?
Every 4th day of December celebrates the International Day of Banks. This is celebrated to recognize the importance of banks in financing sustainable developments.
Importance of Interest Rate
Interest rates are considered one of the important number factors in the economy because they significantly affect monetary and financial conditions and influence people’s capacity to borrow money. For example, if the interest rates are high, it is expensive to borrow money, and if it is low, it is cheaper. Hence, they will most likely borrow.
Download Interest Rate (International Day of Banks Themed) Math Worksheets
This is a fantastic bundle which includes everything you need to know about Interest Rate across 18 in-depth pages. These are ready-to-use Common core aligned Grade 7 Math worksheets.
Each ready to use worksheet collection includes 10 activities and an answer guide. Not teaching common core standards? Don’t worry! All our worksheets are completely editable so can be tailored for your curriculum and target audience.
Resource Examples
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Worksheets Activities Included
Age 11-12 (Basic) 7th Grade
- Individual Loans
- Bank Statement
- Finding Rate
- ABC Bank’s Rates
- Banker’s POV
Age 11-12 (Advanced) 7th Grade
- Bank Rate Calculation
- Bank Portfolio
- My POV: Interest Rate Edition
- Luke’s Interest
- Start-Up
Frequently Asked Questions
It is the percentage charged for borrowing money or earned from saving money.
Example:
If you save ₱1,000 in a bank that pays 5% interest per year:
You earn:
in interest after one year.
Use the formula:
Where:
= Interest
= Principal (starting amount)
= Interest rate
= Time
Example:
For ₱2,000 at 4% interest for 3 years:
Interest earned:
It helps people:
Understand the cost of loans
Calculate earnings from savings
Compare financial products
Make better money decisions
Example:
If two banks offer:
Bank A: 2% interest
Bank B: 4% interest
A savings account at Bank B will earn more money over time than one at Bank A.
