Simple Interest
Compound Interest
Mortgages
Stats Terms
Sampling
100
I = P r t
Formula for simple interest I?
100
$10
Interest on $100 at 5% for 2 years
100
$260
Balance for $200 at 10% simple 3 years
100
5%
Find r if I=$30,P=$300,t=2
100
3 years
Find time if I=$45,P=$150,r=0.1
100
A = P(1+r/n)^(nt)
Compound amount formula
100
$121
$100 at 10% annual 2 yrs
100
12
For monthly compounding, n=?
100
$500
$500 at 0% for 5 years
100
10.25%
Effective annual rate of 10% semiannual (approx)
100
principal and interest
Fixed payment includes what two main parts?
100
0.5% or 0.005
Monthly rate from 6% annual
100
360
Payments in a 30-year monthly loan
100
interest
Early payments mostly go to what?
100
$20,000
Loan $100k, pay $120k total: total interest
100
population
Entire group studied
100
sample
Subset of a population
100
quantitative
Numeric measurement type
100
mean
Average (sum/count)
100
median
Middle value when ordered
100
systematic
Method selecting every 10th person
100
stratified
Randomly pick from each grade
100
voluntary-response bias
People volunteer: what bias risk?
100
mode
Most frequent value
100
range
Max minus min
M
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