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Simple Interest
Compound Interest
Mortgages
Stats Vocabulary
Sampling & Data
100
P r t
Complete the formula: I = ____ for simple interest.
100
$40
Find the simple interest on $500 at 4% for 2 years.
100
$920
Find the future value of $800 at 5% simple interest for 3 years.
100
7.5%
If $90 of simple interest is earned on $600 in 2 years, what is the annual interest rate?
100
$1,000
What principal is needed to have a future value of $1,300 in 3 years at 10% simple interest?
100
compound interest
Interest earned on both the principal and earlier interest is called this.
100
$1,100
Find the amount for $1,000 at 10% compounded annually for 1 year.
100
compound interest
At the same stated annual rate, which grows more over time: simple or compound interest?
100
$583.20
Find the amount for $500 at 8% compounded annually for 2 years.
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
an amortization schedule
The payment schedule showing how much goes to interest and principal over time is called this.
100
interest
In the early years of a fixed-rate mortgage, more of each payment goes to interest or principal?
100
360
How many monthly payments are in a 30-year mortgage?
100
decreases
If you make a larger down payment, the amount borrowed usually does what?
100
population
The complete group a study wants to learn about is called the ____.
100
sample
A smaller group selected from the population is called the ____.
100
statistic
A numerical summary based on a sample is a ____.
100
parameter
A numerical summary describing a population is a ____.
100
discrete quantitative data
Data that can be counted, such as number of siblings, are this type of data.
100
simple random sample
A sample chosen so every member has an equal chance of being selected is this kind of sample.
100
bias or voluntary response bias
If only volunteers respond to a survey, the data are likely affected by this problem.
100
continuous data
Heights measured in inches are this kind of quantitative data.
100
systematic sampling
Selecting every 10th name on a roster is this sampling method.
100
stratified sampling
Dividing a population into groups and sampling from each group is this sampling method.