Simple Interest
Compound Interest
Mortgages
Statistical Terms
Mixed Review
100
What is principal?
In I = Prt, the P stands for this.
100
What is compound interest?
Interest is earned on the principal and earlier interest in this kind of growth.
100
What is a home or real estate?
A mortgage is a loan used to buy this type of property.
100
What is the population?
The entire group you want information about is called this.
100
What is $10?
Simple interest on $200 at 5% for 1 year is this.
200
What is $40?
Simple interest on $500 at 4% for 2 years is this.
200
What is $1,210?
$1,000 invested at 10% compounded annually for 2 years grows to this amount.
200
What are principal and interest?
A monthly mortgage payment is mainly made of these two parts.
200
What is a sample?
A smaller group selected from the population is called this.
200
What is $1,040?
$1,000 at 4% compounded annually for 1 year becomes this.
300
What is $1,380?
The total amount after simple interest on $1,200 at 5% for 3 years is this.
300
What is monthly compounding?
At the same APR, this compounding schedule earns more in one year: annual or monthly.
300
What is amortization?
The process of paying off a loan through equal scheduled payments is called this.
300
What is discrete data?
Data gathered by counting, such as number of siblings, are this type.
300
What is an escrow account?
In a mortgage payment, taxes and insurance are often collected in this account.
400
What is 5%?
If interest earned is $90 on $600 for 3 years, the simple interest rate is this.
400
What is $1,102.50?
$1,000 at 5% compounded annually for 2 years grows to this amount.
400
What is 30 years?
A 30-year fixed mortgage has a payment period of this many years.
400
What is continuous data?
Data gathered by measuring, such as height, are this type.
400
What is a convenience sample?
A random sample is usually more representative than this kind of sample.
500
What is $36?
Simple interest on $800 at 6% for 9 months is this.
500
What is 12 years?
Using the Rule of 72, money at 6% interest doubles in about this many years.
500
What is decreases?
If your down payment increases, the amount you borrow usually does this.
500
What is bias?
When a sample systematically favors some outcomes over others, it has this problem.
500
What is a statistic?
A numerical summary computed from a sample is called this.
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