Simple Interest
Compound Interest
Mortgages
Stat Terms
Mixed Review
100
What is $40?
Use I=Prt: Find interest on $500 at 4% for 2 years.
100
What is $1060?
Use A=P(1+r/n)^(nt): Find amount on $1000 at 6% compounded annually for 1 year.
100
What is interest?
A mortgage payment includes principal and what other major cost?
100
What is the population?
The entire group you want information about is called what?
100
What is simple interest only on principal; compound on principal plus prior interest?
What is the difference between simple and compound interest in one sentence?
200
What is $920?
Find total due on $800 at 5% simple interest for 3 years.
200
What is accumulated interest?
In compound interest, interest is earned on principal and what else?
200
What is an amortization schedule?
A table showing how each mortgage payment is split is called what?
200
What is a sample?
A subset of the population is called what?
200
What is a mortgage?
A bank loan for buying a home is called what?
300
What is $240?
At 3% simple interest, how much interest on $2000 for 4 years?
300
What is compound interest?
Which usually grows faster over time: simple or compound interest?
300
What is 360?
How many monthly payments are in a 30-year mortgage?
300
What is quantitative data?
Numerical data from counting or measuring are called what type of data?
300
What is bias?
If a sample is not representative, what problem may result?
400
What is true?
On a simple-interest loan, principal stays constant for computing interest. True or false?
400
What is 12 times?
Compounding monthly means interest is added how many times per year?
400
What is an escrow account?
Property taxes and insurance may be added to a mortgage payment through what account?
400
What is a statistic?
A number that describes a sample is a what?
400
What is descriptive statistics?
A graph or table that summarizes collected values is part of what branch of statistics?
500
What is $100?
Find simple interest on $1000 at 2% for 5 years.
500
What is debt (or a loan)?
A mortgage is a long-term example of what kind of financial obligation?
500
What is bias?
A random sample helps reduce what?
500
What is a census?
Data collected from every member of a population is called a what?
500
What is compound interest?
Which is generally larger after 5 years on same P and r: simple or compound?
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