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Mod 2 Vocab

mod 2 vocab

TermDefinition
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 a 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 a principal.
Sales Tax An additional amount of money charged for items that people buy.
Simple Interest The amount paid or earned for the use of money. The formula for simple interest is I=p r t.
Selling Price The amount the customer pays for an item.
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-1975292
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