Free Printable WorksheetSocial StudiesGrade 8Social Studies CurriculumECO.8.85

8.85 Saving and Investing Simple vs. Compound Interest Worksheet

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Worksheet Overview & Skills Covered

Core academic competencies and curriculum alignment

This Grade 8 Social Studies worksheet provides structured practice on 8.85 Saving and Investing Simple vs. Compound Interest. Students are guided through targeted exercises that build foundational understanding, computational accuracy, and critical thinking skills.

Saving and Investing: Simple vs. Compound Interest - Compare saving options; compute simple and compound interest and growth over time. (CEE Personal Finance (2021): III Saving (Grade 8))

Whether you are an educator preparing classroom handouts, a tutor reinforcing weekly topics, or a parent supporting homeschool learning, this printable resource gives students the deliberate practice required to achieve subject fluency and master state standards.

Grade

Grade 8

Subject

Social Studies

Domain

Social Studies Curriculum

Formats

PDF & DOCX

Sample Practice Problems

Preview the types of problems and questions covered in this worksheet

Below are sample questions representative of the exercises included on this worksheet and related 8.85 Saving and Investing Simple vs. Compound Interest skill assessments:

Problem 1Difficulty: Mastery
Jayden starts from $0 and wants $10,000.00 in 5 years in an account earning 6% APR compounded monthly.
About how much must be deposited at the end of each month? (Round to the nearest dollar.)
A$122.00
B$164.00
C$143.00
D$167.00
Solution & Explanation:Use the annuity formula target = PMT[((1+i)m−1)/i], with i=r/12 and m=12×years. Solve PMT = target ÷ (((1+i)m−1)/i) ≈ $143.00 per month.
Problem 2Difficulty: Mastery
Sofia saves $2,000.00 at 6% for 4 years. At the end of year 2, Sofia withdraws $300.00 and leaves the rest until year 4. Plan C: interest compounds yearly. Plan S: simple interest (interest is not added to the balance while it earns).
Which plan ends with more money, and why?
APlan S, because withdrawals make compounding impossible.
BPlan C, because earning interest on past interest helps even after the withdrawal.
CThey are equal, because both use the same rate.
DPlan S, because simple interest always beats compound interest.
Solution & Explanation:Under compounding, interest gets added to the balance, so future interest can be earned on it. Even with a withdrawal, Plan C ends higher (about $2,187.87 vs Plan S about $2,144.00).
Problem 3Difficulty: Mastery
Sofia is comparing two long-term accounts for 8 years starting with $5,000.00. Account A: 7% compounded yearly but charges a flat $30.00 fee each year. Account B: 6% compounded yearly with no fee.
Which account ends with more money after the full time?
AThey have the same APY
BThey are equal
CAccount A
DAccount B
Solution & Explanation:Compute year by year (or compare formulas): Account A grows then subtracts the fee each year; Account B just compounds. After 8 years, A ≈ $8,283.14 and B ≈ $7,969.24, so Account A is larger.

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Frequently Asked Questions

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QWhat grade level and standards does this worksheet align with?

This worksheet is designed specifically for Grade 8 Social Studies students. It aligns with educational standard ECO.8.85 (Develop understanding of Saving and Investing Simple vs. Compound Interest through grade 8 social studies practice.).

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