Simple Int.
Compound Int.
Mortgages
Stats Terms
Mixed Apps
100
$30
Find the simple interest on $500 at 6% for 1 year.
100
$1,100
Find the amount on $1000 at 10% compounded annually for 1 year.
100
Principal
What is the name of the amount borrowed after the down payment?
100
Population
What do we call the entire group of interest in a study?
100
A random sample
Best method to estimate average commute time at a college: survey everyone or a random sample?
200
7.5%
Using I = Prt, find the rate if I = 120, P = 800, and t = 2 years.
200
$583.20
Find the amount on $500 at 8% compounded annually for 2 years.
200
360
How many monthly payments are in a 30-year mortgage?
200
Sample
What do we call a subset selected from the population?
200
Compound interest
At the same quoted rate and time, which grows faster over time: simple or compound interest?
300
$1,380
Find the total amount on $1200 at 5% simple interest for 3 years.
300
True
True or false: More frequent compounding gives more growth when rate and time stay the same.
300
$192,000
A home costs $240,000 with 20% down. What is the loan amount?
300
Statistic
What is the name for a numerical summary computed from a sample?
300
$135,000
A $150,000 mortgage requires 10% down. What is the principal borrowed?
400
3 years
How long will it take to earn $90 simple interest on $600 at 5%?
400
About $2,382.03
Find the amount on $2000 at 6% compounded annually for 3 years.
400
It increases
If the interest rate rises and everything else stays the same, what happens to the monthly payment?
400
Bias
What is the term for consistent distortion caused by the way data are collected?
400
Convenience sample
If you survey only your friends for a class project, what kind of sample is that?
500
Compound interest
On the same principal, rate, and time, which earns more: simple interest or annual compound interest?
500
About $1,392.40
A $1000 credit-card balance grows 18% annually for 2 years if unpaid. About how much is owed?
500
Less total interest and a shorter loan term
What is one benefit of paying extra principal on a mortgage?
500
False
True or false: A random sample automatically guarantees no bias.
500
Compound interest by $4.80
Compare $3000 at 4% for 2 years: compound annually vs. simple interest. Which is larger, and by how much?
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