Simple Interest
Compound Interest
Mortgages
Stats Terms
Mixed Finance & Data
100
I = P r t
Name the formula for simple interest I.
100
A = P(1+r/n)^(nt)
Compound amount formula with n compounding periods.
100
Interest
A mortgage payment includes principal and this cost.
100
Mode
Value appearing most often.
100
Linear
Simple interest uses growth that is linear or exponential?
200
$30
Interest on $200 at 5% for 3 years.
200
$121
$100 at 10% annually 2 years becomes what?
200
Loan amount (principal borrowed)
Down payment = price minus this value.
200
Median
Middle value of ordered data.
200
Effective annual rate
Compounding more often generally increases this return measure.
300
$540
Simple-interest total if P=$500, r=4%, t=2.
300
12
At 6% monthly, what is n?
300
n (number of payments)
Name the fixed monthly payment formula variable for months.
300
Population
Whole group of interest.
300
Voluntary response bias
Bias risk when volunteers choose to answer.
400
5%
Find r if I=$60, P=$400, t=3.
400
(1+0.08/4)^4 (or 1.0824 approx)
Effective one-year growth factor at 8% quarterly.
400
360
For 30-year mortgage, how many monthly payments?
400
Sample
A subset selected from population.
400
Categorical
Categorical or quantitative: eye color.
500
5 years
How long for $1000 to earn $150 at 3% simple?
500
$50
Interest when $500 becomes $550.
500
0.5% or 0.005
Monthly rate for 6% APR.
500
Range
Difference between max and min.
500
Statistic
Statistic or parameter: sample mean.
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