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ch. 6 vocab
| term | Definition |
|---|---|
| Percent | a ratio comparing a number to 100 |
| Estimate | an answer that is close to the exact answer and is found by rounding or other methods |
| Compatible Numbers | numbers that are close to the given numbers that make estimation or mental calculation easier |
| Benchmark | common numbers that serve as points of reference |
| Percent Change | the amount stated as a percent that a number increases or decreases |
| Percent Increase | a percent change describing an increase in quantity |
| Percent Decrease | a percent change describing a decrease in quantity |
| Commission | a fee paid to a person for making a sale |
| Commission Rate | the fee paid to a person who makes a sale expressed as a percent of the selling price |
| Sales Tax | a percent of the cost of an item, which is charged by governments to raise money |
| Interest | the amount of money charged for borrowing or using money |
| Simple Interest | a fixed percent of the principal. It is found using the formula I=Prt, where P is principal, r is rate of interest, and t is time |
| Principal | the initial amount of money borrowed or saved |
| Rate of Interest | the percent charged or earned on an amount of money |
Created by:
Love-Luna
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