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Simple Interest
Compound Interest
Mortgages
Statistics Terms
Mixed Review
100
I = P r t
This formula gives simple interest on a loan or investment.
100
True
True or False: Compound interest earns interest on interest.
100
a home or real estate
A mortgage is a loan used to buy this.
100
population
The entire group being studied is called the ____.
100
$20
Find the simple interest on $200 at 10% for 1 year.
200
$40
Find the simple interest on $500 at 4% for 2 years.
200
A = P(1 + r/n)^(nt)
Write the compound interest formula for the amount A.
200
principal
In an amortization schedule, each payment is split between interest and ____.
200
sample
A subset of the population is called a ____.
200
compound interest
With the same principal, rate, and time, which usually gives the larger balance: simple or compound interest?
300
5%
If the simple interest is $90 on $600 for 3 years, what annual rate was used?
300
$1,102.50
Find the amount after 2 years on $1,000 at 5% compounded annually.
300
360
A 30-year mortgage with monthly payments has this many payments.
300
quantitative discrete
Number of siblings is what type of data?
300
systematic sampling
Randomly selecting every 10th student is this sampling method.
400
the original principal
On a simple interest loan, interest is calculated on this amount only.
400
monthly compounding
With the same APR, which usually produces more interest: monthly compounding or annual compounding?
400
interest
Early in a mortgage, most of each payment goes toward this.
400
quantitative continuous
Height measured in inches is what type of data?
400
0.005
For 6% APR compounded monthly, the monthly rate is this decimal.
500
$54
Find the simple interest on $1,200 at 6% for 9 months.
500
12
If interest is compounded quarterly for 3 years, what is the exponent nt?
500
escrow account
Taxes and insurance are often collected in this mortgage account.
500
statistic
A numerical summary computed from a sample is a ____.
500
statistic
A survey of 20 students finds an average sleep time of 6.8 hours. The 6.8 is a ____.