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Simple Interest
Compound Interest
Mortgages
Stat Terms
Sampling/Data
100
What is I = P r t?
Use this formula to compute simple interest.
100
What is A = P(1 + r/n)^(nt)?
Use this formula to compute compound amount.
100
What are principal and interest?
A monthly mortgage payment is mainly split into these two math parts.
100
What is the population?
The entire group you want information about.
100
What is a systematic sample?
Choosing every 10th student from a list is this type of sample.
200
What is $80?
Find the simple interest on $800 at 5% for 2 years.
200
What is $1,210?
Find the amount for $1,000 at 10% compounded annually for 2 years.
200
What is 360 payments?
A 30-year mortgage with monthly payments has this many payments.
200
What is a sample?
A subset of the population that is actually studied.
200
What is a simple random sample?
Assigning numbers and using a random number generator gives this kind of sample.
300
What is $1,416?
Find the future value using simple interest for $1,200 at 6% for 3 years.
300
What is $1,429.10?
Find the amount for $1,200 at 6% compounded annually for 3 years, rounded to the nearest cent.
300
What is an amortization schedule?
This schedule shows how each loan payment is split and how the balance changes over time.
300
What is a statistic?
A number that describes a sample, such as a sample mean.
300
What is stratified sampling?
Dividing the population into groups such as majors, then sampling from each group, is this method.
400
What is 6%?
Solve for r: I = $90, P = $500, t = 3 years.
400
What is $3.20?
Compare simple and compound growth on $500 at 8% for 2 years with annual compounding: compound exceeds simple by this amount.
400
What is interest?
Early in a fixed-rate mortgage, more of each payment goes to this than to principal.
400
What are quantitative data?
Data measured using numbers are this type of data.
400
What is sampling bias?
Statements based only on one convenience group may suffer from this problem.
500
What is $270?
Find the simple interest on $2,500 at 7.2% for 18 months.
500
What is about $3,121.81?
Find the amount for $3,000 at 4% compounded quarterly for 1 year, rounded to the nearest cent.
500
What is decreases total interest?
Making extra principal payments usually changes the total interest in this direction.
500
What is a biased sample?
A sample that overrepresents some outcomes and underrepresents others is called this.
500
What is continuous data?
Data like student height can take any value in an interval, so it is this kind of quantitative data.