Simple Interest
Compound Interest
Mortgages
Statistics Terms
Mixed Interpretation
100
$10
Find simple interest on $100 at 5% for 2 years.
100
A = P(1+r)^t
Formula for annual compounding balance with principal P.
100
The amount borrowed
In a mortgage, what is the principal?
100
Median
Statistic describing the middle value of ordered data.
100
Population
Population or sample: all students at a college?
200
A = P(1+rt)
Simple-interest formula for total amount A.
200
$121
$100 at 10% compounded annually for 2 years becomes?
200
Mortgage payment (amortized payment)
Regular payment that includes principal and interest is called what?
200
Mean
Statistic most affected by extreme outliers.
200
$10
Simple interest on $500 at 4% for 6 months.
300
2 years
At simple interest, solve t if I=20, P=200, r=.05.
300
36
How many compounding periods in 3 years monthly?
300
Loan amount (principal)
Difference between price and down payment is what?
300
Sample
Term for subset selected from a population.
300
7
Range of 2,4,9.
400
0.07
Rate as decimal for 7% in I=Prt.
400
A = P(1+r/n)^(nt)
Formula with n compounds per year.
400
Interest rate
Fixed-rate means what stays constant?
400
Mode
Most frequent value is called what?
400
$210
$200 at 5% simple for 1 year totals?
500
$100
Find P if I=30, r=.1, t=3.
500
4
With quarterly compounding, n equals?
500
Amortization schedule
Name for schedule showing principal/interest split.
500
Statistic
Term for numerical summary of a sample.
500
Principal and previously earned interest
Compounding earns interest on what?
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