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mod 2 vocab
| terms | 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 good or service that an |
| 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 it can be both |
| gratuity | aslo know as tip.it is a small amount of money return for a service |
| interest | the amount paid or earned for the use of principal |
| markdown | an amount by which the regular price of an item is reduced |
| markup | the amount the price |
| percent error | a ratio that compares the inaccuracy of an estimate (amount of error) to the actual amount. |
| percent of change | a ratio that compares the change in quantity to orignal amount. |
| percent of decrease | a negative percent of change. |
| percent of increase | a positive percent of change. |
| principal | the amount of money deposited or borrowed |
| sale tax | an additional amount of money charged on items that people buy. |
| selling price | |
| simple interest | |
| wholesale | |
| tip |
Created by:
user-1975166