Promissory Note Worksheet

About this promissory note worksheet

This free promissory note worksheet is a printable page for ages 8 and up. It pairs with the Wealthonauts lesson on this topic, so kids can practice the ideas on paper after they finish reading. Print it, fill it in and check the answer key at the bottom. In addition, the questions start easy and get harder, so every learner can find a challenge. As a result, the page works for practice at home, a homeschool lesson or a quick classroom review.

Part 1: Label the note

I, Jordan Lee, promise to pay Alex Rivera one hundred dollars ($100) plus 5% interest, in five monthly payments of $21, beginning March 1 and ending July 1. Signed: Jordan Lee

1. Borrower: ______________
2. Lender: ______________
3. Principal: ______________
4. Interest rate: ______________
5. Maturity (final due date): ______________

Part 2: Write your own practice note

Write a pretend promise to repay a friend 10 stickers. Include the amount, the due date and a signature line.

Part 3: Interest math

1. $200 borrowed at 10% simple interest for 1 year. Interest = $______
2. $500 borrowed at 4% simple interest for 2 years. Interest = $______

Answer key (grown-ups): Part 1 — Jordan Lee; Alex Rivera; $100; 5%; July 1. Part 3 — $20; $40.

Practice only. Real loan documents should be reviewed by an adult and, when needed, a lawyer.

How to use this promissory note worksheet

First, complete the matching lesson online. Next, print this page and work through each part without looking back. Then, use the answer key to check the work together. Teachers can also use the worksheet as a quick exit ticket.