Simple Interest
Compound Interest
Mortgages
Statistical Terms
Mixed Skills
100
What is I = Prt?
Name the formula for simple interest.
100
What is A = P(1 + r)^t?
Name the compound interest formula with annual compounding.
100
What is the principal?
The original amount borrowed to buy a home is called this.
100
What is the population?
The entire group a study wants to describe is the ____.
100
What is $84?
Find the simple interest on $800 at 7% for 18 months.
200
What is $90?
Find the simple interest on $500 at 6% for 3 years.
200
What is $1,210?
Find the balance of $1,000 at 10% compounded annually for 2 years.
200
What is a fixed-rate mortgage?
A mortgage payment that stays the same each month is called this type.
200
What is the sample?
A smaller group selected from the population is the ____.
200
What is $102.50?
A $1,000 account earns 5% compounded annually for 2 years. How much interest is earned?
300
What is $1,320?
Find the total amount for $1,200 at 5% simple interest for 2 years.
300
What is $2,315.25?
A $2,000 investment grows at 5% compounded annually for 3 years. Find A to the nearest cent.
300
What is an amortization schedule?
A table showing each payment, interest, principal, and remaining balance is this.
300
What is a statistic?
A numerical summary computed from a sample is a ____.
300
What is all students at the college?
If 250 people are selected from all students at a college, identify the population.
400
What is $900?
A loan earns $72 interest at 4% for 2 years. Find the principal.
400
What is previously earned interest?
Compound interest differs from simple interest because interest is earned on this.
400
What is $180,000?
If a $200,000 home has a 10% down payment, how much is financed?
400
What is a parameter?
A numerical summary describing a population is a ____.
400
What is a statistic?
A sample has an average age of 24. This average is a ____.
500
What is 3 years?
At 8% simple interest, how long does it take $1,000 to earn $240?
500
What is compound interest?
Which grows more after 5 years at the same rate: simple or compound interest?
500
What is interest?
The portion of an early mortgage payment that is often larger is this.
500
What is bias?
A sample that systematically favors some outcomes has this problem.
500
What is $300,000?
A mortgage has a $240,000 principal and a 20% down payment. What was the home price?
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