Simple Interest
Compound Interest
Mortgages
Stat Terms
Sampling/Data
100
$60
Use I = Prt. If P = 500, r = 0.06, and t = 2, find I.
100
Compound interest
Which grows faster over time at the same rate: simple or compound interest?
100
A home / real estate
A mortgage is a loan used to buy what?
100
Population
The entire group you want information about is the ____.
100
Convenience sample
A sample chosen because it is easy to reach is called what?
200
$920
Find the total amount on $800 at 5% simple interest for 3 years.
200
$1,050
Find the value of $1,000 at 5% compounded annually for 1 year.
200
An amortization schedule
In a mortgage payment, part goes to interest and part to principal. The schedule showing this is called what?
200
Sample
A part of the population actually studied is the ____.
200
Quantitative
Height in inches is qualitative or quantitative?
300
6%
If simple interest on $1,000 for 4 years is $240, what is the annual rate?
300
The number of compounding periods per year
In A = P(1 + r/n)^(nt), what does n represent?
300
Lower
A larger down payment usually makes the monthly mortgage payment higher or lower?
300
Statistic
A numerical summary calculated from a sample is a ____.
300
Discrete
Number of siblings is discrete or continuous?
400
$150
Find the simple interest on $2,500 at 8% for 9 months.
400
$1,123.60
Find the value of $1,000 at 6% compounded annually for 2 years.
400
A 30-year mortgage
For the same loan amount and rate, which usually has the lower monthly payment: a 30-year or a 15-year mortgage?
400
Parameter
A numerical summary calculated from a population is a ____.
400
Stratified
A sample that randomly selects people from each subgroup is a ____ sample.
500
$1,200
Find the principal if simple interest earned is $72 at 4% for 18 months.
500
About 9 years
Using the Rule of 72, money invested at 8% interest doubles in about how many years?
500
A 30-year mortgage
Which usually costs more total interest over the life of the loan: a 30-year or a 15-year mortgage?
500
Qualitative / categorical
Data like majors, eye color, or favorite food are qualitative or quantitative?
500
Undercoverage (sampling bias)
If a survey misses parts of the population because they are hard to reach, that problem is called what?
M
e
n
u