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Step2Module2 #1

Vocabulary

TermDefinition
markdown a cut in the price of an item
markup is the extra money added to the cost of making or buying an item to set its final selling price
sale is an event at which products are sold at reduced prices
coupon is a detachable part of a ticket or advertisement that entitles the holder to a discount
rebate is a refund of part of the amount paid for an item
simple interest is a fixed percent of the principal
commission is an amount of money a salesperson earns after selling a product
sales tax is a percentage of the selling price of a good or service that is added to the price
income tax is a percent of a person’s or company’s earnings that is collected by some states and the federal government
Created by: whitee
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