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Simple Interest
Compound Interest
Mortgages
Basic Statistical Terms
Sampling and Data
100
What is I = Prt?
State the simple interest formula.
100
What is $40?
Find the simple interest on $500 at 4% for 2 years.
100
What is the annual interest rate written as a decimal?
In I = Prt, what does r represent?
100
What is 5%?
A loan earns $90 interest on $600 for 3 years. Find the rate.
100
What is $1,308?
Find the total amount due on $1,200 at 6% simple interest for 18 months.
100
What is interest being added 12 times per year?
What does it mean to compound interest monthly?
100
What is compound interest?
Which usually grows faster over time: simple interest or compound interest?
100
What is 5?
If interest is compounded annually, how many compounding periods occur in 5 years?
100
What is the interest rate, time, or compounding frequency?
Name one factor besides principal that affects compound growth.
100
What is interest earning interest?
Why does compound interest usually produce more money than simple interest?
100
What is a home or other real estate?
A mortgage is a long-term loan usually used to buy this type of property.
100
What is principal?
In a mortgage, this word means the amount borrowed before interest.
100
What is a fixed-rate mortgage?
This type of mortgage keeps the same interest rate for the life of the loan.
100
What is interest?
A monthly mortgage payment usually includes principal and this additional cost.
100
What is the amount borrowed or loan balance?
Making a larger down payment usually lowers this part of the mortgage.
100
What is the population?
This is the entire group a study wants to learn about.
100
What is the sample?
This is a smaller part of the population that is actually observed.
100
What is a parameter?
This numerical description summarizes a population.
100
What is a statistic?
This numerical description summarizes a sample.
100
What is a variable?
This is a characteristic that can take different values from person to person or case to case.
100
What is qualitative or categorical data?
This kind of data describes labels or categories instead of numbers.
100
What is quantitative data?
This kind of data uses numbers that count or measure.
100
What is a convenience sample?
This sampling method chooses people because they are easy to reach.
100
What is a random sample?
This kind of sample helps reduce bias because everyone has a chance to be selected.
100
What is sampling bias?
If responses come mostly from one friend group, this problem may affect the study.