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mod 2 vocab
| Term | Definition |
|---|---|
| markdown | An amount by which the regular price of an item is reduced |
| principal | The amount of money deposited or borrowed. |
| commission | a pay equal to a percent of the amount of goods or services that an employee sells for the company. |
| markup | the amount the price of an item is increased above the price the store paid for the item. |
| sales tax | an additional amount of money charged on items that people buy. |
| discount | the amount by which the regular price of an item is reduced. |
| percent error | A ratio that compares the inaccuracy of an estimate (amount of error) to the actual amount. |
| selling price | the amount the customer pays for an item. |
| fee | A payment for a service.it can be a fixed amount, a percent of the charge,or both |
| percent of change | A ratio that compares the change in a quantity to the original amount |
| simple interest | The amount paid or earned for the use of money. the formula for simple interest /=prt |
| gratuity | the process of placing a point on a number line or on a coordinate plane at its proper location |
| percent of decrease | a negative percent of change |
| tip | also known as a gratuity, it is a small amount of money in return for a service |
| interest | the amount paid or earned for the use of the principal |
| percent of increase | a positive percent of change |
| wholesale cost | the amount the store pays for an item |
Created by:
user-1975189