Simple Interest
Compound Interest
Mortgages
Statistics Terms
Mixed Review
100
What is principal?
In the simple interest formula I = Prt, what does P stand for?
100
What is previously earned interest?
What does compound interest add interest to besides the original principal?
100
What is a home or real estate?
A mortgage is a loan used to buy this.
100
What is a population?
This is the entire group you want information about.
100
What is amortization?
This term describes equal periodic payments that gradually pay off a loan.
200
What is $40?
Find the simple interest on $500 at 4% for 2 years.
200
What is $1,100?
A $1,000 account earns 10% compounded annually for 1 year. What is the balance?
200
What is interest?
An amortization schedule separates each payment into principal and this other part.
200
What is a sample?
This is a subset selected from a population.
200
What is $2,060?
Find the total amount repaid on a $2,000 simple interest loan at 3% for 1 year.
300
What is $920?
A simple interest investment of $800 at 5% for 3 years has what future value?
300
What is $1,210?
A $1,000 account earns 10% compounded annually for 2 years. What is the balance?
300
What is fixed or the same?
In a fixed-rate mortgage, the scheduled monthly payment generally stays this way.
300
What is a statistic?
A numerical summary computed from a sample is called this.
300
What is compound interest?
For long-term growth at the same nominal rate, which usually gives more money: simple interest or compound interest?
400
What is 5%?
If I = 90, P = 600, and t = 3 in the simple interest formula, what is r?
400
What is the number of compounding periods per year?
In a compound interest formula, n represents this.
400
What is interest?
Early in a typical mortgage, most of a payment goes to principal or interest?
400
What is qualitative or categorical?
A variable described by labels such as major, eye color, or favorite food is this type of variable.
400
What is a convenience sample?
If a survey only asks your friends, the sample is probably this type.
500
What is $108?
Find the simple interest on $1,200 at 6% for 18 months.
500
What is monthly compounding?
Which grows more over the same time at the same nominal rate: annual compounding or monthly compounding?
500
What is it gets shorter / you pay it off sooner?
If you pay extra toward principal each month, what usually happens to the loan term?
500
What is quantitative continuous?
Data measured like height or time are what type of quantitative data?
500
What is a parameter?
A numerical summary that describes a population is called this.
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