Simple Interest
Compound Interest
Mortgages
Statistical Terms
Mixed Review
100
What is $30?
Use I = Prt with P=$200, r=0.05, t=3. Find the interest.
100
What is compound interest?
Interest earned on both the principal and prior interest is called this.
100
What is amortization?
The regular process of paying off a loan over time is called this.
100
What is a statistic?
A number that describes a sample is called this.
100
What is the population?
The group you want information about in a study is called this.
200
What is $540?
Find the future value of $500 at 4% simple interest for 2 years.
200
What is 12?
If interest is compounded monthly, it is added this many times per year.
200
What is a mortgage?
A long-term loan used to buy a home is called this.
200
What is a sample?
A subset of a population selected for study is called this.
200
What is qualitative data?
Data measured with words or labels, like eye color, are this type of data.
300
What is $108?
A $1,200 loan at 6% simple interest for 18 months earns this much interest.
300
What is $121?
$100 earns 10% compounded annually for 2 years. Find the ending balance.
300
What is interest?
In the early years of a mortgage, most of each payment goes to this.
300
What is quantitative data?
Data that come from counting or measuring are this type of data.
300
What is a convenience sample?
A sample chosen because it is easy to reach is called this type of sample.
400
What is I = Prt?
Simple interest is calculated using this formula.
400
What is increase?
Compounding more often generally makes the ending balance do this.
400
What is principal?
The amount borrowed at the start of a mortgage is the this amount.
400
What is variation or spread?
A measure that tells how spread out data are is called this.
400
What is 6% compounded monthly?
Which is more: 6% simple interest or 6% compounded monthly for one year?
500
What is $15?
A borrower invests $900 at 8% simple interest for 75 days using a 360-day year. Find the interest.
500
What is n?
Name the factor in A = P(1 + r/n)^(nt) that tells how many times per year interest is added.
500
What is escrow?
If taxes and insurance are added to the monthly mortgage payment, they are often paid through this account.
500
What is sampling variation?
Variation caused by differences from sample to sample is called this.
500
What is bias?
A survey of only students in the library at 10 a.m. may suffer from this problem.
M
e
n
u