Simple Interest
Compound Interest
Mortgages
Stat Terms
Mixed Review
100
$100
Use I = Prt for P = 1000, r = 0.05, t = 2. Find I.
100
$944
Find the total payoff for $800 at 6% simple interest for 3 years.
100
$90
How much simple interest is earned on $2500 at 4.8% for 9 months?
100
6%
If I = $360, P = $3000, and t = 2 years, find r.
100
about $3,666.67
Find the present value needed for a future value of $5500 at 10% simple interest for 5 years.
200
interest
Compound interest earns interest on principal and previously earned ____.
200
$1,102.50
Find A for $1000 at 5% compounded annually for 2 years.
200
compound interest
At the same nominal rate and time, which grows more: simple or compound interest?
200
12
For interest compounded monthly, what is n in the formula?
200
10%
If $1000 becomes $1210 in 2 years, what annual compound rate (compounded annually) was used?
300
a home or real estate
A mortgage is a loan used to buy what?
300
interest
In an amortization schedule, most of the early payment goes to what?
300
property taxes and homeowners insurance
Besides principal and interest, escrow often includes what two items?
300
decrease
A larger down payment usually makes the monthly mortgage payment do what?
300
360
A 30-year mortgage has about how many monthly payments?
400
population
The complete group you want information about is the ____.
400
sample
A smaller group chosen from the population is the ____.
400
statistic
A numerical description of a sample is a ____.
400
parameter
A numerical description of a population is a ____.
400
simple random sampling
A method that gives every member an equal chance of selection is called ____.
500
discrete
Data counted in whole numbers, like number of siblings, are what type?
500
continuous
Data measured on a scale, like height or time, are what type?
500
cluster sampling
Choosing all students in one randomly selected class is what sampling method?
500
$18
Find the simple interest on $1200 at 3% for 6 months.
500
$250
If a mortgage payment is $900 and $650 goes to interest, how much goes to principal?
M
e
n
u