# Glossary (In Progress)

Absolute value

The absolute value of a number is its distance from 0 on the number line. The absolute value of a number is written as .

Amortization

Is the process of spreading out a loan into a series of fixed payments.

Amount financed

Is the purchase price of the item less any down payment.

Annuity

Is a series of payments made at fixed intervals.

Annuity due

Is an annuity where the payment is due at the beginning of each payment period.

Coincident lines

Coincident lines are lines that have the same slope and same y-intercept.

Complementary angles

Two angles are complementary if the sum of the measures of their angles is 90 degrees.

Compound amount

Is the total amount of principal and accumulated interest at the end of a loan or investment period.

Compound interest

Is when the interest on a loan or deposit is calculated based on both the initial principal and any accumulated interest from previous periods.

Compounding period

Is the span of time between when interest is calculated and when it will be calculated again.

Conditional equation

An equation that is true for one or more values of the variable and false for all other values of the variable is a conditional equation.

Consistent system

A consistent system of equations is a system of equations with at least one solution.

An equation that is false for all values of the variable is called a contradiction. A contradiction has no solution.

Decimal

A decimal is another way of writing a fraction whose denominator is a power of ten.

Dependent equations

Two equations are dependent if all the solutions of one equation are also solutions of the other equation.

Effective interest rate

Takes the compounding periods into effect, so it is a better reflection of the actual interest charges.

Equation

An equation is made up of two expressions connected by an equal sign.

Equivalent decimals

Two decimals are equivalent if they convert to equivalent fractions.

Expression

An expression is a number, a variable, or a combination of numbers and variables and operation symbols.

Finance charge

Is the total of the  interest charges on a loan.

Frequency distribution

A table or graph that illustrates the number of times that a specific outcome or data value occurs within an interval.

Future value of the annuity

Is  the final amount of the annuity. It is the total of all annuity payments and the accumulated compound interest.

Graph of a linear equation

The graph of a linear equation is a straight line. Every point on the line is a solution of the equation. Every solution of this equation is a point on this line.

Histogram

Represents the frequency distribution (number of occurrences) of each data value. The data values are grouped into intervals or “bins”.

Histograms

Used to illustrate the distribution of one specific data item such as height or temperature.

Horizontal line

A horizontal line is the graph of an equation of the form . The line passes through the y-axis at .

Identity

An equation that is true for any value of the variable is called an identity. The solution of an identity is all real numbers.

Inconsistent system

An inconsistent system of equations is a system of equations with no solution.

Independent equations

Two equations are independent if they have different solutions.

Installment loan

Is a type of loan that is repaid over time with a set number of scheduled payments (installments). The term of loan may be vary and could be few months or many years.

Integer

The whole numbers and their opposites are called the integers: …−3, −2, −1, 0, 1, 2, 3…

Intercepts of a line

The points where a line crosses the x– axis and the y– axis are called the intercepts of the line.

Irrational number

An irrational number is a number that cannot be written as the ratio of two integers. Its decimal form does not stop and does not repeat.

Least common denominator

The least common denominator (LCD) of two fractions is the Least common multiple (LCM) of their denominators.

Linear equation

A linear equation is of the form , where A and B are not both zero, is called a linear equation in two variables

Maturity date

Is when all principal and/or interest must be repaid to the lender.

Maturity value

Is the amount to be paid on the due date of a loan or the amount to be paid to an investor at the end of the period for which an investment has been made.

Mean

is the average of all data values.

Median

is the data value that divides all ranked data values into two equal parts. It need not be one of the data values.

Mode

is the data value that occurs most often.

Negative slope

A negative slope of a line goes down as you read from left to right.

Nominal interest rate

Is normally the stated rate. It does not take the compounding periods into effect.

Normal Distribution

Is when the data values lie in a symmetric fashion around the mean. Half of the data values lie on either side of the mean.

nth root of a number

If then b is an nth root of a.
The principal nth root of a is written
n is called the index of the radical.

Opposite

The opposite of a number is the number that is the same distance from zero on the number line but on the opposite side of zero: means the opposite of the number. The notation is read “the opposite of .”

Ordered pair

An ordered pair gives the coordinates of a point in a rectangular coordinate system.

Ordinary annuity

Is an annuity where the payment is due at the end of each payment period.

Origin

The point is called the origin. It is the point where the x-axis and y-axis intersect.

Outlier

A data observation that is deemed to be unusual based on the pattern of the other data values.

Parallel lines

Lines in the same plane that do not intersect.

Payment interval

Is the time between successive annuity payments.

Percent

A percent is a ratio whose denominator is .

Percentiles

Divide ordered data into hundredths.

Perpendicular lines

Lines in the same plane that form a right angle.

Positive slope

A positive slope of a line goes up as you read from left to right.

Present value

Is the current value of a sum of money that has been invested and has grown to a larger compound amount.

Principal

Is the amount of money that has been invested or borrowed.

Proportion

A proportion is an equation of the form , where , .The proportion states two ratios or rates are equal. The proportion is read “ is to , as is to ”.

The x-axis and the y-axis divide a plane into four regions, called quadrants.

Qualitative data

Are the result of categorizing or describing attributes of a population using our senses such as sight or touch.

Quantitative data

Are the result of counting or measuring a specific attribute of a population.

Quartiles

Divide ordered data into four equal parts.

Range

Indicates the total spread in data values. It is the difference between the highest and lowest data values.

Rate

A rate compares two quantities of different units. A rate is usually written as a fraction.

Ratio

A ratio compares two numbers or two quantities that are measured with the same unit. The ratio of to is written to , , or .

Rational number

A rational number is a number of the form , where p and q are integers and . A rational number can be written as the ratio of two integers. Its decimal form stops or repeats.

Real number

A real number is a number that is either rational or irrational

Rectangular coordinate system

A grid system is used in algebra to show a relationship between two variables; also called the xy-plane or the ‘coordinate plane.’

Repeating decimal

A repeating decimal is a decimal in which the last digit or group of digits repeats endlessly.

Rise

The rise of a line is its vertical change.

Run

The run of a line is its horizontal change.

Sigma

Is the uppercase Greek letter written  ∑. It is used to indicate the sum of a series of values.

Simple interest

Is interest that is calculated only once during the entire time period of the loan or deposit. Simple interest is calculated solely on the principal investment or loan.

Skewed Distribution

Is when more of the data values lie at one end of the distribution as compared to the other end.

Slope formula

The slope of the line between two points and is .

Slope of a line

The slope of a line is . The rise measures the vertical change and the run measures the horizontal change.

Slope-intercept form of an equation of a line

The slope–intercept form of an equation of a line with slope and y-intercept, is, .

Solution of an equation

A value of a variable that makes a true statement when substituted into the equation.

Solutions of a system of equations

Solutions of a system of equations are the values of the variables that make all the equations true. A solution of a system of two linear equations is represented by an ordered pair (x, y).

Square root notation

is read ‘the square root of m
If n2 = m, then for

The square root of m, is a positive number whose square is m.

Standard deviation

Measures the  dispersion of the data values around the mean.

Stem and leaf graph

Divides each data observation into a stem and a leaf. The stem is the first digit or digits and the leaf is the last digit.

Supplementary angles

If the sum of the measures of two angles is °, then they are called supplementary angles.

System of linear equations

When two or more linear equations are grouped together, they form a system of linear equations.

Term of the annuity

Is the time from the beginning of the first payment interval to the end of the last payment interval.

Triangle

A triangle is a geometric figure with three sides and three angles.

Unit rate

A unit rate is a rate with denominator of 1 unit.

Vertex of an angle

When two rays meet to form an angle, the common endpoint is called the vertex of the angle.

Vertical line

A vertical line is the graph of an equation of the form . The line passes through the x-axis at .

X– intercept

The point where the line crosses the x– axis; the x– intercept occurs when is zero.

X-coordinate

The first number in an ordered pair .

Y-coordinate

The second number in an ordered pair .

Y-intercept

The point where the line crosses the y– axis; the y– intercept occurs when is zero.

Z-score

Is a standardized score that has been converted from a data value. The z-score indicates how many standard deviations away from the mean a data value lies.