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SIMPLE INTEREST
COMPOUND INTEREST
MORTGAGES
STAT TERMS
MIXED APPLICATIONS
100
What is I = Prt?
Name the formula for simple interest.
100
What is A = P(1 + r/n)^(nt)?
Name the compound-interest formula.
100
What is a loan secured by real property?
What is a mortgage?
100
What is the population?
What is the entire group a study wants to describe?
100
What is $2,300?
A $2,000 investment earns 3% simple interest for 5 years. Find A.
200
What is $60?
Find interest on $500 at 6% for 2 years.
200
What is $1,210?
Find the value of $1,000 at 10% compounded annually for 2 years.
200
What is principal?
What part of a payment reduces the amount owed?
200
What is a sample?
What is a subset selected from a population?
200
What is about $1,687.30?
A savings account compounds $1,500 at 4% annually for 3 years. Find A, rounded to cents.
300
What is $896?
Find the total amount for $800 at 4% simple interest for 3 years.
300
What is the number of compounding periods per year?
In the compound formula, what does n represent?
300
What is a table showing each payment and its principal and interest portions?
What is an amortization schedule?
300
What is a statistic?
What is a numerical summary computed from a sample?
300
What is $200?
A borrower pays $1,200 monthly. If $1,000 is interest, how much reduces principal?
400
What is 3 years?
At 5% simple interest, how long does $1,000 take to earn $150?
400
What is monthly compounding?
Which produces more interest: annual or monthly compounding at the same nominal rate?
400
What is $192,000?
A $240,000 loan has a 20% down payment. Find the amount borrowed.
400
What is a parameter?
What is a numerical summary of a population?
400
What is quantitative discrete?
Identify the variable type: number of courses a student takes.
500
What is $1,000?
A loan earns $360 interest in 4 years at 9%. Find the principal.
500
What is about 12.68%?
Find the effective annual rate for 12% compounded monthly, rounded to two decimals.
500
What is because interest is calculated on the large remaining balance?
Why are early fixed mortgage payments mostly interest?
500
What is a systematic tendency to favor certain outcomes or groups?
What is bias in a study?
500
What is selection bias or undercoverage?
A survey of only social-media users estimates campus internet access. Name a likely problem.