Simple Interest
Compound Interest
Mortgages
Stats Terms
Mixed Finance/Stats
100
I = P r t
Name the simple interest formula.
100
A = P(1+r/n)^(nt)
Compound amount formula (n compounds/year).
100
Principal
Name the amount borrowed for a home.
100
Population
Entire group of interest is a what?
100
Simple random sample
Sampling where everyone has equal random chance.
200
$20
Find I on $200 at 5% for 2 years.
200
$121
$100 at 10% annual for 2 years becomes?
200
Loan amount (mortgage principal)
Down payment = price minus what?
200
Sample
Subset selected is a what?
200
Voluntary response bias
Bias from volunteers is what kind?
300
$560
Find total A if P=$500, r=4%, t=3 simple.
300
4
For quarterly compounding, n equals?
300
360
30-year mortgage has how many monthly payments?
300
Sum divided by count
Mean definition?
300
Categorical
Categorical or quantitative: eye color?
400
r = I/(Pt)
In I=Prt, solve for r.
400
36
In A=P(1+r/n)^(nt), exponent for 3 years monthly?
400
0.5% (0.005)
Monthly rate from 6% APR?
400
Median
Middle value when ordered?
400
2
Mode of 2,2,3,4?
500
0.5
6 months equals how many years for t?
500
APY (effective annual rate)
Name annual rate reflecting compounding.
500
Amortization
Term for fixed recurring mortgage payment process.
500
Range
Difference max minus min?
500
Variation (variability)
Best term for spread of data.
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