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mod 2 vocab
| Term | Definition |
|---|---|
| amount of error | The positive difference between the estimate and the actual amount. |
| commission | A payment equal to a percent of the amount of goods or services that an employee sells for the company. |
| discount | The amount by which the regular price of an item is reduced. |
| fee | A payment for a service. It can be a fixed amount, a percent of the charge, or both. |
| gratuity | Also known as a tip. It is a small amount of money in return for a service. |
| interest | The amount paid or earned for the use of the principal. |
| markdown | An amount by which the regular price of an item is reduced. |
| markup percent error | The amount the price of an item is increased above the price the store paid for the team. |
| percent of change | A ratio that compares the change in a quantity to the original amount. |
| percent of decrease | A negative percent of change. |
| percent of increase | A positive percent of change. |
| principal | he amount of money deposited or borrowed. |
| sales tax | An additional amount of money charged on items that people buy. |
| selling price | The amount the customer pays for an item. |
| simple interest | The amount paid or earned for the use of money. The formula for simple interest is I= prt. |
| tip | Also known as a gratuity, it is a small amount of money in return for a service, |
| wholesale cost | The amount the store pays for an item. |
Created by:
user-1975157