Simple Interest
Compound Interest
Mortgages
Stat Terms
Mixed Apps
100
What is $40?
Use I = Prt. Find interest on $500 at 4% for 2 years.
100
What is previously earned interest?
Compounded interest means interest is earned on principal and what else?
100
What is a home (real estate)?
A mortgage is primarily a loan used to buy what?
100
What is the population?
The entire group you want information about is the _____.
100
What is compound interest?
Which grows faster at the same nominal rate over time: simple or compound interest?
200
What is $1,380?
Find future value with simple interest: P=$1200, r=5%, t=3.
200
What is the number of compounding periods per year?
For A = P(1+r/n)^(nt), what does n represent?
200
What is interest?
In an amortization schedule, each payment is split between principal and _____.
200
What is a sample?
A subset selected from the population is called a _____.
200
What is $600?
A lender charges 6% APR on a $10,000 simple-interest loan for 1 year. Interest?
300
What is 4 years?
Solve for time in I = Prt: I=$180, P=$900, r=5%.
300
What is $1,123.60?
Compute A for P=$1,000 at 6% compounded annually for 2 years.
300
What is 360 payments?
A 30-year mortgage with monthly payments has about how many payments?
300
What is quantitative data?
Data measured with numbers (heights, incomes, test scores) are ____ data.
300
What is compound-interest total?
Which is usually larger for the same principal and rate over several years: simple-interest total or compound-interest total?
400
What is original principal only?
Simple interest uses which balance each period: original principal only or updated balance?
400
What is usually higher than the nominal APR?
What is the effective annual yield when interest compounds more than once per year compared to nominal APR?
400
What is down (decreases)?
If you increase the loan term from 15 to 30 years (same principal/rate), the monthly payment usually goes _____.
400
What is categorical data?
Data grouped into labels like color, major, or brand are ____ data.
400
What is systematic sampling?
A survey chooses every 10th student from a list. This is what sampling method?
500
What is 2 years?
A principal of $2,400 earns $360 simple interest at 7.5%. Find time.
500
What is $20.76?
How much interest is earned after 1 year on $200 at 10% compounded quarterly? (Round to cents.)
500
What is larger?
In early mortgage payments, is the interest portion usually larger or smaller than the principal portion?
500
What is a misleading graph?
A graph that distorts axes to exaggerate differences is called what kind of display?
500
What is mean, median, or mode?
Name one basic statistic that measures center.
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