Simple Interest
Compound Interest
Mortgages
Stats terms
Sampling
100
I = Prt
State simple interest formula.
100
A = P(1+r/n)^(nt)
Compound amount formula with n per year.
100
Interest
Mortgage payment includes principal and what?
100
Average
Mean describes what center measure?
100
Systematic sample
Randomly pick every 10th person = what sample?
200
$20
Find interest on $200 at 5% for 2 years.
200
$121
$100 at 10% annually 2 years becomes?
200
Home/real estate secured loan
A mortgage is what type of loan security?
200
4
Median of 2,4,9.
200
Sampling frame
A list used to choose a sample is called?
300
$560
Find total amount: $500, 4%, 3 years simple.
300
12
Compounded monthly means n equals?
300
Decrease
Higher down payment makes principal do what?
300
Entire group of interest
Define population.
300
Bias
Survey only friends causes what?
400
3%
At simple interest, find rate if $1000 earns $60 in 2 years.
400
10.25%
APY for 10% compounded semiannually (approx).
400
0.5% or 0.005
Monthly rate for 6% APR?
400
A population parameter
A sample statistic estimates what?
400
Stratified sample
Divide by grade then sample each = ?
500
3 years
Time for $300 to earn $45 at 5% simple?
500
Compound
Which grows more: same rate simple or compound over years?
500
360
30-year mortgage has how many payments?
500
7
Range of 3,8,10.
500
Sampling variation
Difference from sample to sample is called?
M
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