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Simple Interest
Compound Interest
Mortgages
Stats Terms
Mixed Review
100
What is I = Prt?
State the simple interest formula.
100
What is A = P(1 + r/n)^(nt)?
State the compound interest formula.
100
What is the amount borrowed?
In a mortgage, what is the principal?
100
What is the population?
The entire group a researcher wants information about.
100
What is $36?
Compute the simple interest on $900 at 4% for 1 year.
200
What is $120?
Find the simple interest on $800 at 5% for 3 years.
200
What is $1,123.60?
Find the balance on $1,000 at 6% compounded annually for 2 years.
200
What is amortization or an amortized loan?
Equal monthly payments over time describe what kind of loan schedule?
200
What is a statistic?
A numerical summary of a sample is called a _____.
200
What is $1,545?
$1,500 at 3% compounded annually for 1 year ends with what balance?
300
What is $1,296?
Find the total amount on $1,200 at 4% for 2 years using simple interest.
300
What is about $520.30?
Find the balance on $500 at 4% compounded quarterly for 1 year.
300
What is $720?
Borrow $120,000 at $6 per $1,000 borrowed. What is the monthly principal-and-interest payment?
300
What is categorical or qualitative?
What type of variable is favorite music genre?
300
What is $189,000?
A home costs $210,000 with a 10% down payment. What is the amount financed?
400
What is 6%?
If I = $270, P = $1,500, and t = 3 years, find r.
400
What is monthly compounding?
With the same principal, rate, and time, which grows more: annual or monthly compounding?
400
What is $144,000?
A home price is $180,000 and the buyer makes a 20% down payment. What is the amount financed?
400
What is bias?
Consistent favoritism in sample selection is called _____.
400
What is the sample?
In a survey of 200 students, the 200 students are the _____.
500
What is 3 years?
If P = $3,000, r = 8%, and I = $720 under simple interest, find t.
500
What is about $2,209.88?
Find the balance on $2,000 at 5% compounded monthly for 2 years.
500
What is $1,145?
If principal and interest are $950, taxes and insurance are $150, and PMI is $45, what is the total monthly housing payment?
500
What is stratified sampling?
What sampling method divides a population into groups and randomly selects from each group?
500
What is because interest is earned on prior interest or on a growing balance?
Why does compound interest usually produce more money owed or earned than simple interest for the same principal, rate, and time?