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Simple Interest
Compound Interest
Mortgages
Statistical Terms
Mixed Review
100
What is P?
In I = Prt, this variable represents the principal.
100
What is $60?
Find the simple interest on $500 at 4% for 3 years.
100
What is 5%?
If I = 240, P = 1200, and t = 4, find the annual rate.
100
What is $180?
A $2,000 loan at 6% simple interest for 18 months costs this much in interest.
100
What is 6%?
An investment grows from $3,000 to $3,720 in 4 years at simple interest. Find the rate.
200
What is previously earned interest?
Compound interest earns interest on the principal plus this.
200
What is compound interest?
At the same stated rate over time, this type of interest grows faster: simple or compound.
200
What is $1,210?
$1,000 at 10% compounded annually for 2 years becomes this amount.
200
What is 12?
If interest is compounded monthly, it is added this many times per year.
200
What is $15.25?
At 5% for 3 years on $2,000, annual compounding gives this much more than simple interest.
300
What is a home or real estate?
A mortgage is a loan used to buy this.
300
What is principal?
The part of a mortgage payment that reduces the amount borrowed is called this.
300
What is an amortization schedule?
A table showing how each payment is split between principal and interest is an ...
300
What is lower?
Compared with shorter terms, longer mortgage terms usually make monthly payments this.
300
What is 360?
A 30-year mortgage with monthly payments has this many payments.
400
What is the population?
The complete group you want information about is the ...
400
What is the sample?
A smaller group selected from the population is the ...
400
What is a statistic?
A numerical summary computed from a sample is a ...
400
What are qualitative or categorical data?
Data such as major, favorite app, or eye color are this type of data.
400
What is bias or sampling bias?
Surveying only your friends is likely to create this problem.
500
What is 0.08?
If APR is 8%, its decimal form is this.
500
What is 62%?
If 62 of 100 surveyed students say yes, the sample proportion in percent is this.
500
What is compound growth or compound interest?
A balance that grows because unpaid interest keeps being added shows this kind of growth.
500
What is principal?
This financial term names the total amount originally borrowed.
500
What is $6,000?
A $150,000 loan at 4% simple interest for 1 year would have this much interest.