Simple Interest
Compound Interest
Mortgages
Statistical Terms
Mixed Review
100
What is I?
In I = Prt, this letter represents the interest earned.
100
What is $60?
Find the simple interest on $500 at 4% for 3 years.
100
What is $1,100?
A $1,000 investment earns 5% simple interest for 2 years. Find the final amount.
100
What is 4%?
A $900 investment earns $108 simple interest in 3 years. Find the annual rate.
100
What is 3 years?
At 5% simple interest, this is the time needed for $1,200 to earn $180.
100
What is P(1 + r/n)^(nt)?
This formula gives the future value with compound interest: A = ...
100
What is $1,123.60?
$1,000 is invested at 6% compounded annually for 2 years. Find A, rounded to cents.
100
What is $541.22?
$500 is invested at 8% compounded quarterly for 1 year. Find A, rounded to cents.
100
What is monthly?
At the same nominal rate and time, this compounding frequency produces more interest: monthly or annually.
100
What is about $1,727.68?
Find the present value needed to have $2,000 in 3 years at 5% compounded annually.
100
What is a mortgage?
This type of loan is used to buy real property.
100
What is PITI?
This acronym summarizes principal, interest, taxes, and insurance in a housing payment.
100
What is $1,000?
The first-month interest on a $200,000 loan at a monthly rate of 0.5% is this amount.
100
What is 360?
A 30-year mortgage with monthly payments has this many payments.
100
What is $182,000?
A borrower pays $1,200 per month for 360 months on a $250,000 loan. Find the total interest paid.
100
What is the population?
This is the entire group a researcher wants to study.
100
What is a sample?
This is a subset selected from the population.
100
What is a parameter?
A numerical measure describing a population is called this.
100
What is a statistic?
A numerical measure describing a sample is called this.
100
What is categorical?
The variable 'favorite color' is this type of variable.
100
What is 4?
Find the mean of 2, 4, and 6.
100
What is 8?
Find the median of 3, 7, 9, and 10.
100
What is 2?
Find the mode of 2, 2, 3, and 4.
100
What is 11?
Find the range of 12, 15, 20, and 23.
100
What is sampling bias (or a biased convenience sample)?
Surveying only students at the gym to estimate all students' exercise habits creates this likely problem.
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