Simple Interest
Compound Int.
Mortgages
Stats terms
Mixed
100
$20
Simple interest on $200 at 5% for 2 years
100
A=P(1+r/n)^(nt)
Formula for compound amount
100
12 per year
Monthly payments are made how often?
100
population
Entire group studied is called
100
4
Mean of 2,4,6
200
I=Prt
Formula for simple interest
200
$110
$100 at 10% annually 1 year amount
200
principal
Money borrowed for a home is
200
sample
Part of population studied
200
3
Median of 1,9,3
300
3 years
I=$30 P=$100 r=10%; time?
300
$121
$100 at 10% annually 2 years
300
interest
Fixed mortgage payment includes principal and
300
discrete
Variable that counts items is discrete or continuous?
300
2
Mode of 2,2,3
400
$520
Simple amount $500 4% 1 year
400
4
Compounded quarterly means n equals
400
yes
Down payment reduces loan principal: yes/no
400
convenience sample
Biased convenient selection is called
400
6
Range of 2,8,5
500
5%
Solve r if I=25 P=250 t=2
500
larger
More frequent compounding makes amount
500
360
Term of 30-year mortgage in months
500
mean
Average called mean or sample?
500
systematic sample
Randomly select every 10th =
M
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