Simple Interest
Compound Interest
Mortgages
Stats Terms
Mixed
100
$20
Find simple interest on $200 at 5% for 2 years.
100
I = P r t
Simple interest formula
100
$560
Balance from $500 at 4% simple for 3 years
100
5%
Interest $30 on $300 for 2 years: rate?
100
2 years
Time for $1000 to earn $120 at 6% simple
200
A = P(1+r/n)^(nt)
Compound interest formula (n times/year)
200
$121
$100 at 10% annually for 2 years
200
12
At 6% compounded monthly, n equals?
200
12
Compounded quarterly periods in 3 years
200
e
Difference: interest credited continuously uses which constant?
300
P
Payment formula variable usually meaning principal
300
240
A 20-year monthly mortgage has how many payments?
300
0.5%
Monthly rate when annual rate is 6%
300
loan principal
Down payment reduces which amount?
300
interest rate
Fixed-rate means what stays constant?
400
median
Middle value when sorted
400
sum divided by number of values
Mean definition
400
sample
Part of population chosen
400
range
Difference max minus min
400
population
Entire group studied
500
compound
Simple or compound: earns interest on interest
500
categorical
Categorical or quantitative: eye color
500
census
Sampling everyone in group
500
5
Mean of 2, 4, 9
500
misrepresents the population
A biased sample systematically does what?
M
e
n
u