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mod 2 vocab
| Term | Definition |
|---|---|
| amount of error | the positive difference between the estimate that the actual amount |
| commission | a payment equal to a percent |
| discount | the amount by which the original price is reduced by |
| fee | a payment for a service |
| gratuity | also known as a tip |
| interest | the amount paid or earned for the use of the principal |
| markdown | the amount by which it is decrease |
| markup | the amount by which it is increase |
| percent error | A ratio that compares the inaccurary of an estimate to the actual amount |
| percent of change | a ratio that compares the change in a quantity to the original |
| percent of increase | a positive percent of change |
| percent of decrease | a negative percent of change |
| principal | the 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 gratuity it is a small amount of money in return for a service |
| wholesale cost | the amount the store pays for item |
Created by:
user-1982156