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Simple Interest
Compound Interest
Mortgages
Stats Terms
Mixed
100
$10
Find simple interest on $100 at 5% for 2 years.
100
A = P(1+r)^t
Formula for compound amount annually.
100
Amount borrowed
In a mortgage, what is principal?
100
sample
A subset of a population is a ___.
100
compound
Which earns more after years: simple or compound (same rate)?
200
I = Prt
Formula for simple interest.
200
$110
$100 at 10% compounded yearly for 1 year = ?
200
payment
Regular monthly cost to borrow is called what?
200
average
Mean is also called what?
200
selection bias
Bias from volunteers is what kind?
300
$3
$200 at 3% for 6 months simple interest.
300
4
Compounding quarterly means n equals?
300
principal (loan amount)
A down payment reduces what?
300
median
Middle ordered value is the ___.
300
2 years
Simple interest: solve t if I=20,P=100,r=.1.
400
$55
Find total A for P=50,I=5 simple.
400
$121
$100 at 10% annually 2 years A=?
400
stays constant
Fixed-rate means rate does what?
400
sample statistic
Population parameter or sample statistic: x-bar?
400
2
Identify mode: 1,2,2,3.
500
0.06
Annual rate 6% as decimal.
500
A=P(1+r/n)^(nt)
Formula with n compounds/year.
500
installments over time
Amortization is paying loan how?
500
range
Difference max minus min is ___.
500
systematic
Randomly choose every 10th person is what sample?