Simple Interest: Saving for your dream house

Teach students how math connects to real life with this engaging, real-world worksheet on Simple Interest. In this activity, students take on the role of someone saving for the down payment of their dream home—a goal of $100,000 in 10 years. As they work through three types of problems, they’ll gain valuable financial literacy skills while practicing key 7th grade math standards.

This worksheet includes:

• 💡 Part 1: Calculate the simple interest earned when principal, interest rate, and time are given.
• 🔍 Part 2: Work backwards to find how much money needs to be deposited today to reach a savings goal.
• 📈 Part 3: Determine the interest rate needed to hit a future target with a known principal and time.

Students apply the formula I=P×R×T in multiple ways—reinforcing proportional reasoning, percent applications, and basic algebraic manipulation. The real-world scenario keeps students motivated and helps them see why math skills are essential for smart money decisions.

Standards Covered:

• CCSS.MATH.CONTENT.7.RP.A.3 (Multi-step percent problems)
• CCSS.MATH.CONTENT.7.EE.B.3 (Solving real-life math problems with expressions and equations)

Features:

• Real-world financial scenario students can relate to
• Auto-graded and randomized for individual learning paths
• Perfect for classroom use, homework, or financial literacy units
• Encourages critical thinking and financial planning skills

Help your students connect math with their future—download and assign this worksheet today!