Tenor Chapter 6 Pre-Algebra

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Terms in this set (...)

compound interest
Interest paid on the initial principal and on interest earned in the past.
discount
The amount by which the regular price of an item is reduced.
interest
The amount of money paid or earned for the use of money.
markup
The amount the price of an item is increased above the price the store paid for an item.
percent equation
An equivalent form of the percent proportion, where % is written as a decimal. Part = % times Whole
percent error
A measure of the difference between an estimate, prediction, or measurement and the actual value.
percent of change
The ratio of the increase or decrease of an amount to the original amount.
percent of decrease
The ratio of an amount of decrease to the previous amount, expressed as a percent. A negative percent of change.
percent of increase
The ratio of an amount of increase to the original amount, expressed as a percent.
percent proportion
part/whole = %/100 or a/b = p/100
principal
The amount of money in an account.
selling price
The amount a customer pays for an item.
simple interest
The amount of money paid or earned for the use of money. I=prt (Interest = principal x rate x time)