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Percent Vocab-Money
Discount, Markup, Tax, Tip, Interest, Principle, Simple Interest, Etc.
| Term | Definition |
|---|---|
| Discount | A decrease from the original price of an item. |
| Markup | An increase from what the store pays to the selling price |
| Interest | Is money paid or earned for using or lending money |
| Principal | The amount of money borrowed or deposited |
| Simple Interest | The money paid or earned only on the principal |
| Sale Price | = (Original Price) - (Discount Amount) |
| Markup Price | = (Price Paid by the Store) + (Markup Amount) |
| Simple Interest | = (Principle)(Interest Rate)(Time) |