Simple Interest
Compound Interest
Mortgages
Stat Terms
Mixed Review
100
What is $150?
Use I = Prt. Find interest on $1000 at 5% for 3 years.
100
What is A = P(1+r)^t?
Name the formula for annual compounding amount.
100
What is homeowners insurance (and often PMI)?
A mortgage payment usually includes principal, interest, taxes, and this insurance item.
100
What is the median?
This is the middle value when data are ordered.
100
What is a selected group used to represent the whole?
A sample is best described as this subset of a population.
200
What is the original principal?
In simple interest, the interest each period is based on this amount only.
200
What is increase?
At the same nominal rate, more frequent compounding makes the final amount do this.
200
What is an amortization schedule?
A mortgage schedule showing each payment split between principal and interest is called this.
200
What is the mean?
The average found by sum divided by count is this measure.
200
What is a random start?
A systematic sample selects every kth unit after this starting condition.
300
What is doubles?
If principal doubles while rate and time stay fixed, simple interest does this.
300
What is previously earned interest?
Compounding earns interest on principal plus this.
300
What is decrease?
A larger down payment generally makes the monthly mortgage payment do this.
300
What is the mode?
The value that appears most often is called this.
300
What is the minimum?
Range is computed as maximum minus this value.
400
What is 0.06?
A 6% annual simple interest rate as a decimal is this.
400
What is 12?
For monthly compounding, n in A=P(1+r/n)^(nt) equals this number.
400
What is principal (or principal balance)?
The amount borrowed after a down payment is called the loan this.
400
What is variance?
A measure of spread that uses squared distance from the mean is this.
400
What is an equal chance?
A simple random sample gives each population unit this chance of selection.
500
What is $1,000?
Solve for principal if I=$240, r=0.08, t=3 years.
500
What is exponential growth?
Compound interest growth is often described as this type of growth.
500
What is longer?
The total cost of borrowing often rises when the loan term gets this.
500
What is standard deviation?
The square root of variance is this statistic.
500
What is a sample?
A parameter describes a population, while a statistic describes this.
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