Lesson: 5 Grade Level: 7 Simple and Compound Interest Activity 7.5-2f Class Period Name Directions: Complete each table with the information provided. Then get one chart paper and 2 markers. Draw a line down the center of the chart paper and label one side Simple Interest and one side Compound Interest. Under each heading list the principal, interest rate, and interest earned after 5 years. Felipe opened two savings accounts with a one-time deposit of $1,800 in each account. The first savings account will pay 5% simple interest each year. The second one will pay 5% compound annually. Use the charts below to calculate the amount of interest he will earn in 5 year period. Simple Interest 1 2 5 3 4 Year Amount to Interest Rate Interest Earned Ending Balance Earn Interest (2) x (3) 2 w 4 5 Total Compound Interest (For interest earned round down to the hundredth place.) 1 2 3 4 5 Year Amount to Interest Rate Interest Earned Ending Balance Earn Interest (2) x (3) 2 3 A UT Total