Show:
Simple Interest
Compound Interest
Mortgages
Stats Terms
Mixed Finance/Stats
100
I=Prt
Formula for simple interest I
100
A=P(1+r/n)^(nt)
Formula with n compounds/year
100
principal
Name for borrowed amount before interest
100
sample
Subset chosen from population
100
interest earned/paid
Interest vs total: what does I denote?
200
$10
$100 at 5% for 2 yrs interest
200
$110
$100 at 10% annual 1 yr
200
principal and interest
Payment parts abbreviated P&I
200
parameter
Value describing population
200
4
Compounding quarterly n equals
300
$206
Total on $200 at 3% for 1 yr
300
$110.25
$100 at 10% semiannual 1 yr
300
reduces amount borrowed
Higher down payment usually does what to loan?
300
mean
Average found by sum/count
300
quantitative
A variable measured numerically is called
400
6%
Find rate: $12 on $100 in 2 yrs
400
effective annual percent yield
Meaning of APY
400
interest rate
Fixed-rate means what stays constant?
400
median
Middle ordered value
400
systematic sample
Method picking every 10th person
500
5 years
Time if $30 on $150 at 4%
500
$540.80
Approx A: $500, 4% annual, 2 yr
500
360
Monthly periods in 30-year mortgage
500
mode
Most frequent value
500
self-selection bias
Bias when volunteers choose themselves