Simple Interest
Compound
Mortgages
Stats Terms
Mixed
100
10
Find interest: P=100 r=5% t=2
100
A=P(1+r/n)^(nt)
Formula for compound amount
100
amount borrowed
What is principal in a mortgage?
100
median
Middle value term
100
I=Prt
Simple interest formula
200
206
Total simple amount on 200 at 3% for 1 year
200
121
100 at 10% annual for 2 years
200
down payment
Name for upfront payment
200
mean
Average term
200
compound
Compound or simple earns interest on interest?
300
6%
Solve rate if I=12 P=100 t=2
300
compounds per year
Meaning of n
300
0.5%
Monthly rate from 6% APR
300
mode
Most frequent value term
300
the home
Mortgage collateral usually is
400
3 years
Time when I=30 P=200 r=5%
400
1.05
Effective growth factor at 5% annual
400
360
Payments in a 30-year monthly loan
400
range
Difference max minus min
400
population
Term for all individuals studied
500
10
Interest on 500 at 4% for 6 months
500
108.24 (approx)
100 at 8% quarterly for 1 year
500
amortization
Balance decreases schedule name
500
sample
Subset used to study population
500
categorical
Categorical or numerical: eye color
M
e
n
u