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OGT 2
OGT Math - Week 2 vocabulary
Vocab Word | Definition |
---|---|
Annual | Once a year |
Biannual | Twice a year |
Quarterly | Four times a year |
Semiannual | More than one time a year |
Down payment | The first cash installment made on a purchase. |
Finance Charge | A charge connected to buying on credit |
Gross Pay | The amount of pay earned before deductions |
Interest | A charge for borrowing money on time based on a percent |
List price | The original price of an item. |
Loan principal | The amount owed on a loan. |
Net pay | The amount of pay earned after deductions |
Overtime hours | Hours worked over 40 in a week |
Overtime rate | The rate of pay for overtime hours, usually time and a half. |
Payroll deductions | Taxes, FICA, Social security, etc. |
Profit | The amount of money earned on the sale of a product after deducting expenses |
Reciprocal | Two numbers with a product of one |
Sale price | The cost of an item after a discount is taken. |
Service charge | Uh, let me look this one up. |