Simple Interest
Compound Interest
Mortgages & Loans
Stat Terms & Sampling
Mixed Review
100
Find the simple interest on $1,000 at 5% for 2 years.
What is $100?
100
Find the total payoff on $2,000 at 6% simple interest for 3 years.
What is $2,360?
100
If I = $180, r = 9%, and t = 2 years, find the principal.
What is $1,000?
100
A future value of $5,750 is earned at 5% simple interest for 3 years. Find the present value.
What is $5,000?
100
Find the simple interest on $5,000 at 8% for 15 months.
What is $500?
100
$1,000 earns 10% compounded annually for 1 year. Find the amount.
What is $1,100?
100
$1,000 earns 10% compounded annually for 2 years. Find the amount.
What is $1,210?
100
On $1,000 at 10% for 2 years, how much more interest does compound annual interest earn than simple interest?
What is $10?
100
$2,000 earns 6% compounded quarterly for 1 year. Find the amount to the nearest cent.
What is $2,121.36?
100
A 5% nominal rate compounded monthly has an effective annual yield of about this percent.
What is about 5.12%?
100
At the beginning of a mortgage, most of each payment goes to this.
What is interest?
100
An amortization schedule shows how each payment is split between these two things.
What are principal and interest?
100
In a mortgage payment, escrow usually covers these two costs.
What are property taxes and homeowners insurance?
100
A mortgage is repaid through repeated monthly partial payments called this process.
What is amortization?
100
If you pay extra principal on a mortgage, the total interest paid over time does this.
What is decreases?
100
The entire group you want to study is called the _____.
What is the population?
100
A smaller part of the population that is actually observed is the _____.
What is the sample?
100
Favorite music genre is this type of data.
What is qualitative (categorical) data?
100
Surveying the first 20 people you see is this type of sample.
What is a convenience sample?
100
A number computed from a sample, such as a sample mean, is called a _____.
What is a statistic?
100
Which grows faster over time at the same rate: simple or compound interest?
What is compound interest?
100
The formula for simple interest is I = _____.
What is Prt?
100
A 30-year home loan is commonly called a _____ mortgage.
What is a fixed-rate mortgage (or 30-year mortgage)?
100
Class rank (1st, 2nd, 3rd) is this level/type of data.
What is ordinal data?
100
A larger random sample usually reduces this from sample to sample.
What is sampling variability (or sampling error)?
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