Simple Interest
Compound Interest
Mortgages
Statistical Vocabulary
Mixed Review
100
What is I = Prt?
This is the simple interest formula for interest earned.
100
What is $60?
Find the simple interest on $500 at 6% for 2 years.
100
What is $1,380?
Find the total amount after 3 years on $1,200 at 5% simple interest.
100
What is 5%?
If I = $90, P = $600, and t = 3 years, find r.
100
What is 6%?
At what rate will $800 earn $96 of simple interest in 2 years?
100
What is A = P(1 + r/n)^(nt)?
This is the compound interest formula for a lump sum.
100
What is $1,050?
Find the amount on $1,000 at 5% compounded annually for 1 year.
100
What is $1,102.50?
Find the amount on $1,000 at 5% compounded annually for 2 years.
100
What is compound interest?
At the same APR over many years, which grows faster: simple interest or compound interest?
100
What is about $2,081.21?
Find the amount on $2,000 at 4% compounded quarterly for 1 year.
100
What is a home or real estate?
A mortgage is a loan usually used to buy this.
100
What is the interest rate?
In a fixed-rate mortgage, this stays the same over the life of the loan.
100
What is principal?
The part of a payment that reduces the loan balance is called this.
100
What is total interest paid?
If you make extra principal payments, this usually decreases over the life of the loan.
100
What is 360?
A 30-year mortgage paid monthly has this many payments.
100
What is the mean?
The average of a data set.
100
What is the median?
The middle value in an ordered data set.
100
What is the mode?
The most frequently occurring value.
100
What is the population?
The entire group you want to study.
100
What is the sample?
The subset of the population that is actually observed.
100
What is compound interest?
Over many years, this type of interest usually produces more growth on savings.
100
What is an amortized loan?
A loan repaid in equal periodic payments is often described as this kind of loan.
100
What is the median?
If a data set has one extremely high outlier, this measure of center is more resistant.
100
What is the sample?
In a survey of 200 students, the 50 students selected are called this.
100
What is $11,200?
Find the total amount after 4 years on $10,000 at 3% simple interest.
M
e
n
u