Simple Interest
Compound Interest
Mortgages
Stats Terms
Mixed Finance/Stats
100
$30
Find simple interest on $200 at 5% for 3 years.
100
$121
Annual compounding: $100 at 10% for 2 years becomes?
100
Amount borrowed (principal)
A mortgage principal is called what?
100
sample
A subset of a population is a ___.
100
They are equal
Which is more after 1 year at 5%: simple or annually compounded?
200
10%
Using I=Prt, solve r when I=$40, P=$200, t=2.
200
36
How many compounding periods in 3 years monthly?
200
Interest rate per period
In M=P*r/(1-(1+r)^-n), r is what?
200
5
Mean of 2,4,9?
200
categorical
Identify categorical or quantitative: eye color.
300
$540
Simple-interest balance for $500 at 4% for 2 years?
300
$108.24 (approx)
Use A=P(1+r/n)^(nt): $100 at 8% quarterly for 1 year.
300
360
30-year monthly mortgage has how many payments?
300
8 (median)
Middle value of 3,8,10?
300
sample
Randomly choose 20 names from all students: sample or population?
400
4 years
How long to earn $60 on $300 at 5% simple?
400
3%
For A=500(1.03)^4, identify periodic rate.
400
$360,000
If payment is $1000 for 360 months, total paid?
400
range
Difference max minus min is called?
400
median
Which measure resists outliers: mean or median?
500
$3
At 6% simple, interest on $100 for 6 months?
500
21%
Effective growth of $200 to $242: percent increase?
500
principal
Payment portion that builds ownership reduces what?
500
selection bias
Survey only friends likely creates what type of bias?
500
population
Parameter describes population or sample?
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