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Simple Interest
Compound Int.
Mortgages
Stat Terms
Mixed Review
100
Use I = Prt with P = 1000, r = 0.05, t = 2. Find the interest.
What is $100?
100
Find the amount for $1,000 at 10% compounded annually for 1 year.
What is $1,100?
100
This is a loan used to buy a home.
What is a mortgage?
100
The entire group you want information about in a study.
What is the population?
100
A set of responses collected in a survey are called this.
What are data?
200
Find the future value of $2,000 at 4% simple interest for 3 years.
What is $2,240?
200
State the compound interest amount formula.
What is A = P(1 + r/n)^(nt)?
200
This table shows how each payment is split between principal and interest over time.
What is an amortization schedule?
200
A smaller group selected from the population to study.
What is a sample?
200
This sampling method uses the easiest people to reach.
What is convenience sampling?
300
Find the present value if the future value is $1,100 at 10% simple interest for 1 year.
What is $1,000?
300
Find the amount for $1,000 at 6% compounded annually for 2 years.
What is $1,123.60?
300
A longer loan term usually means a lower monthly payment but ______ total interest.
What is more?
300
A numerical summary describing a sample.
What is a statistic?
300
If interest is added to principal and future interest is based on the new balance, it is this kind of interest.
What is compound interest?
400
Find the simple interest on $5,000 at 6% for 9 months.
What is $225?
400
Which grows more over 5 years at the same stated rate: simple interest or compound interest?
What is compound interest?
400
In the early years of a standard amortized mortgage, most of each payment goes to this.
What is interest?
400
Data recorded in categories such as eye color or major.
What are qualitative data?
400
A random variable assigns a ______ to each outcome of a chance process.
What is number?
500
At 5% simple interest for 2 years on $1,200, find the future value.
What is $1,320?
500
Find the amount for $1,000 at 12% compounded monthly for 1 year.
What is about $1,126.83?
500
PITI in mortgage language stands for principal, interest, taxes, and ________.
What is insurance?
500
This problem occurs when a sample systematically over- or under-represents part of a population.
What is bias?
500
At 5% for 2 years on $1,000, annual compounding gives $1,102.50 and simple interest gives $1,100. How much more is compound interest?
What is $2.50?