Simple Interest
Compound Interest
Mortgages
Stats Terms
Mixed
100
I = P r t
Formula for simple interest I
100
A = P(1+r/n)^(nt)
General compound amount formula
100
Monthly
Mortgage payment usually made how often?
100
Population
Entire group of interest
100
Systematic
Sampling method picking every 10th item
200
$10
Interest on $100 at 5% for 2 years
200
$110
$100 at 10% annual for 1 year
200
Outstanding principal
In amortization, interest for a month uses what balance?
200
Sample
Subset observed from population
200
Range
Amount of data spread measured by max minus min
300
$220
Total amount for $200 at 10% simple for 1 year
300
4
Meaning of n for quarterly compounding
300
Interest
On a fixed-rate loan, early payments are mostly what?
300
Mean
Average found by sum divided by count
300
$20
Principal is $500; simple 4% one year interest
400
5%
For I=$30, P=$300, t=2 years, find r
400
36
Number of periods for monthly compounding over 3 years
400
$119,000
Borrow $120,000, repay $1,000 principal: new principal
400
Median
Middle value when ordered
400
Voluntary response bias
Name bias when volunteers choose to respond
500
3 years
Time when I=$45, P=$300, r=5%
500
$121
$100 at 10% annual for 2 years
500
360
Term 30 years equals how many monthly payments?
500
Mode
Most frequent value
500
12
Compounding monthly has n equal to what?
M
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