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Mod 1 vocab
| Question | Answer |
|---|---|
| Amount of error | the positive difference between the estimate and the actual amount |
| commission | a payment equal to a percent of amount of goods and services that an employee sells for a company |
| discount | the amount of which the regular price of an item is reduced |
| fee | a payment for a service. It can be a fixed amount, a percent of change or both |
| gratuity | also known as a tip it is a small amount of money in return for a service |
| Interest | the amount paid for or earned for the use of the principle |
| markdown | an amount in which the regular price of an item is reducted |
| markup | the amount the price of an item is increased above the price of the item |
| percent error | A ratio that compares the inaccuracy of an estimate amount (amount of error) to the actual amount. |
| 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 | the amount of money deposited or borrowed |
| sales tax | an additional amount of money charged on items people buy |
| selling price | the amount the customer pays for a item |
| simple intrest | the amount paid or earned for the use of money. The formula for simple interest is /=prt |
| tip | Also known as gratuity, it is a small amount of money in return for a service |
| wholesale cost |
Created by:
user-1981840