Simple Interest
Compound Int.
Mortgages
Stats Terms
Mixed Review
100
What is interest?
In the formula I = Prt, the I stands for this.
100
What is previously earned interest?
Compounding means interest is earned on the principal and this.
100
What is a home (or real estate)?
A mortgage is a loan used to buy this.
100
What is the population?
The whole group you want information about is the _____.
100
What is $6?
Simple interest on $200 at 3% for 1 year is this amount.
200
What is $40?
Find the simple interest on $500 at 4% for 2 years.
200
What is compound interest?
Which usually grows faster over time at the same rate: simple interest or compound interest?
200
What is interest?
In the early years of a mortgage, most of each payment goes to this.
200
What is the sample?
A subset of the population that is actually studied is the _____.
200
What is $1100?
$1000 at 10% compounded annually for 1 year ends with this balance.
300
What is $920?
Find the future value of $800 at 5% simple interest for 3 years.
300
What is $1123.60?
$1000 at 6% compounded annually for 2 years is about this amount.
300
What are principal and interest?
An amortization schedule shows how each payment is split into these two parts.
300
What is qualitative (categorical) data?
Data described by labels or categories are called this type of data.
300
What are the 60 surveyed students?
In “60 students were surveyed from a college of 5,000 students,” the sample is this group.
400
What is 5%?
If interest is $90 on $600 for 3 years, what is the annual simple interest rate?
400
What is 12?
If an account compounds monthly, the number of compounding periods per year is this.
400
What is 360?
A 30-year mortgage with monthly payments has this many total payments.
400
What is convenience sampling?
Choosing the easiest people to reach is this sampling method.
400
What is an amortization schedule?
A monthly table showing the changing principal and interest for a loan is an _____.
500
What is simple interest uses only the original principal, while compound interest also uses accumulated interest?
State one key difference between simple and compound interest.
500
What is more than 12%?
A 12% nominal rate compounded monthly has an effective annual yield that is more, less, or equal to 12%?
500
What is it decreases?
As the principal balance decreases on a fixed-rate mortgage, the interest portion of each payment generally does this.
500
What is it may be biased and not represent the population?
Why can a convenience sample weaken a study?
500
What is quarterly compounding?
Which account earns more after 1 year on $500 at 5%: simple interest or quarterly compounding?
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