Simple Interest
Compound Interest
Mortgages
Statistics Terms
Mixed Review
100
This is the formula for simple interest.
What is I = Prt?
100
Find the simple interest on $500 at 4% for 3 years.
What is $60?
100
Find the total repaid on $1,200 at 5% simple interest for 2 years.
What is $1,320?
100
How many years will it take $800 to earn $96 at 6% simple interest?
What is 2 years?
100
Find the annual simple interest rate if $150 interest is charged on $1,000 for 3 years.
What is 5%?
100
In compound interest, interest is added to the principal so future interest is earned on this too.
What is previously earned interest?
100
Find the future value of $1,000 at 10% compounded annually for 2 years.
What is $1,210?
100
Which grows more over the same time: 6% compounded monthly or 6% compounded annually?
What is 6% compounded monthly?
100
Find the future value of $500 at 8% compounded annually for 3 years.
What is about $629.86?
100
This formula models compound interest growth.
What is A = P(1 + r/n)^(nt)?
100
A mortgage is usually used to buy this type of asset.
What is a home or real estate?
100
A fixed monthly payment that pays principal and interest over time is called this.
What is an amortized payment?
100
In the early years of a 30-year fixed mortgage, most of each payment goes to this.
What is interest?
100
A home costs $200,000 and the down payment is 20%. What is the loan amount?
What is $160,000?
100
Making extra principal payments usually has this effect on the total interest paid over the life of the loan.
What is it decreases the total interest paid?
100
The entire group you want information about.
What is the population?
100
A smaller group selected from the population.
What is a sample?
100
A variable described by labels or categories instead of numerical measurements.
What is a categorical (qualitative) variable?
100
A sampling method in which every sample of a given size has an equal chance to be chosen.
What is a simple random sample?
100
The difference between a sample result and the true population value that occurs because only part of the population was studied.
What is sampling error?
100
If a credit card balance compounds monthly, it uses this type of interest.
What is compound interest?
100
Find the simple interest on $900 at 3% for 4 years.
What is $108?
100
If a study surveys every 10th student entering the library, what sampling method is being used?
What is systematic sampling?
100
Find the mean of 4, 6, 8, and 12.
What is 7.5?
100
Give one reason a sample may not represent the population well.
What is bias, a non-random sample, or a sample that is too small?
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