Show:
Simple Interest
Compound Interest
Mortgages
Stats Terms
Mixed
100
I = P r t
Formula for simple interest I?
100
A = P(1+r/n)^(nt)
Compound amount formula.
100
interest
A mortgage payment usually includes principal and this charge.
100
population
Entire group being studied.
100
$30
Simple interest: $500 at 2% 3 years interest.
200
$10
Interest on $100 at 5% for 2 years.
200
4
With quarterly compounding, n = ?
200
principal borrowed (loan principal)
A down payment reduces this amount.
200
sample
Subset of population observed.
200
increases it
Compounding more often generally does what to A?
300
$206
Total amount for $200 at 3% for 1 year.
300
$121
For annual compounding $100 at 10% 2 years, A?
300
Stays the same
Fixed-rate means rate does what?
300
statistic
Numeric measure from sample.
300
bias
Survey only volunteers risks what?
400
5%
For I=$45,P=$300,t=3, rate?
400
36
Monthly compounding periods in 3 years?
400
360
30-year mortgage has how many monthly payments?
400
simple random sample
Method where each member equally likely.
400
mode
Term for value that occurs most.
500
5 years
How long for $80 interest on $400 at 4%?
500
10.25%
APY of 10% compounded semiannually (approx).
500
amortization
Process of paying loan over time is called what?
500
range
Difference between max and min data.
500
discrete
Identify variable: number of siblings, discrete or continuous?