Simple Interest
Compound Interest
Mortgages & Loans
Sampling & Data Terms
Mixed Finance & Stats
100
What is principal?
In I = Prt, what does P represent?
100
What is compounding, or compound interest?
This phrase describes interest being earned on earlier interest.
100
What is a mortgage?
This type of loan is commonly used to buy a home.
100
What is a population?
The full group a researcher wants to study.
100
What is a statistic?
A number that describes a sample, not an entire population.
200
What is $60?
Find the simple interest on $500 at 4% for 3 years.
200
What is $1,102.50?
$1,000 earns 5% interest compounded annually for 2 years. Find the account value.
200
What is $50,000?
A $250,000 home requires a 20% down payment. Find the down payment.
200
What is quantitative data?
Commute time measured in minutes is this type of data: qualitative or quantitative?
200
What is 50?
A survey asks 50 of 5,000 students a question. What is the sample size?
300
What is $1,320?
$1,200 earns 5% simple interest for 2 years. Find the future value.
300
What is 12?
For monthly compounding, what is n in A = P(1 + r/n)^(nt)?
300
What are principal and interest?
A typical mortgage payment applied to the loan includes these two pieces.
300
What is a statistic?
A sample mean is a parameter or a statistic?
300
What is qualitative versus quantitative data?
Name the key difference: categorical data sort into groups; numerical data measure or count quantities.
400
What is $500?
A simple-interest loan earns $90 interest at 6% over 3 years. Find the principal.
400
What is $2,060.68?
$2,000 earns 3% compounded quarterly for 1 year. Find the ending value to the nearest cent.
400
What is interest?
In early years of a fixed-rate amortized mortgage, payments usually contain more of this than principal.
400
What is sampling bias or an unrepresentative sample?
A poll of only gym members is used to describe all adults exercise habits. Identify the concern.
400
What is $3,121.20?
$3,000 earns 2% compounded annually for 2 years. Find the ending value.
500
What is $135?
Find simple interest on $2,500 at 7.2% for 9 months.
500
What is $4.86 more?
Compare $1,000 at 4% for 3 years: how much more is annual compound interest than simple interest?
500
What is $900?
Find the first month interest on a $180,000 balance at 6% APR: balance x APR / 12.
500
What is to reduce selection bias and improve representativeness?
Why use random sampling when possible?
500
What is $240,000?
A $300,000 house has a 20% down payment. What mortgage amount remains before fees?
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