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discount, tax, tip, percent increase and decrease and interest

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Term
Definition
Quantity   A specific amount or number that represents how much of something you have.  
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Proportion   An equation stating that two ratios are equal. Compares two or more quantities.  
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Discount Rate   The percentage in which a regular price is reduced.  
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Mark Up   The amount of money an item is increased above the original price.  
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Discount Price   The price of an item after the discount has been taken out, also called the "sale price."  
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Interest   The amount of money paid or earned in addition to the money borrowed or saved.  
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Percent of Increase   The percent of change when the new amount is greater than the original.  
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Percent   A ratio that compares a number to 100.  
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Rate   A ratio that can be commonly given as a percentage. Gives the amount of payment or charge based on another amount.  
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Principle   The amount of money originally invested or borrowed.  
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Tax Rate   A percent added to items purchased enforced by the government. Virginia's is 5% on purchased items.  
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Selling Price   The amount the customer pays for an item.  
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Discount   The amount of money that is subtracted from the original price.  
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Percent of Change   A ratio that compares the change in a quantity to the original amount.  
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Tax   The amount of money added to purchased items.  
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Unit Rate   A rate with a denominator of one (1).  
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Tip   The amount of money paid for services, also called "gratuity."  
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Percent of Decrease   The percent of change when the new amount is less than the original.  
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Ratio   A way of comparing two quantities. Can be written as [a/b], [a:b], or [a to b].  
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Interest Rate   A percentage of the money invested or borrowed that you must pay back or that you have earned.  
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withdrawal   an act of taking money out of an account.  
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deposit   an act of putting money into an account  
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balance   Amount available in an account  
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