Simple Interest
Compound Interest
Mortgages
Stats Terms
Sampling
100
What is I=Prt?
Formula for simple interest I
100
What is A=P(1+r/n)^(nt)?
Formula with n compounds per year
100
What is principal?
Name for amount borrowed initially
100
What is a population?
Entire group of interest
100
What is simple random sampling?
Everyone equally likely method
200
What is $20?
I on $200 at 5% for 2 years
200
What is $121?
$100 at 10% annually 2 years
200
What is 360?
In monthly payment formula, number of payments for 30 years
200
What is a sample?
Subset observed from population
200
What is stratified sampling?
Divide into groups then sample each
300
What is $112?
Total value of $100 at 4% simple for 3 years
300
What is 12?
For monthly compounding, n equals this
300
What is 0.5% (0.005)?
Monthly rate for 6% APR
300
What is a statistic?
Numeric summary from sample
300
What is voluntary-response bias?
Polling only volunteers causes this
400
What is 5%?
Rate if $300 earns $45 in 3 years
400
What is 10.25%?
Effective annual rate of 10% semiannual (approx)
400
What is amortization?
Fixed payment loan process name
400
What is the mean?
Average found by sum divided by count
400
What is the range?
Difference between max and min
500
What is 5 years?
Time if $500 earns $50 at 2%
500
What is $8?
Interest on $100 at 8% annually 1 year
500
What is decreases it?
Higher down payment does this to amount financed
500
What is the median?
Middle value after ordering
500
What is categorical (qualitative)?
Variable like eye color is this type
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