Upgrade to remove ads
Only $2.99/month

Principles 2: Level 1

Terms in this set (21)

acreage
a unit of area measurement used to determine the size of land; 1 acre = 43,560 square feet
amortization
the process of paying off a debt/mortgage in regular installments based on a fixed payment schedule
decimal
a fraction whose denominator is a power of ten and whose numerator is expressed by figures placed to the right of a decimal point
denominator
the number below the fraction's bottom line or the number of equal parts in total
down payment
the initial payment made when buying something on credit; a down payment is paid directly by the buyer to the seller
fraction
part of a whole, not a whole number
improper fraction
a fraction in which the value of the numerator (the number on top) is greater than the denominator (the number on the bottom)
Interest
money repaid regularly at a specified rate as compensation for money lent
loss
a financial loss
mixed numbers
a number consisting of a whole number and a fraction
mortgage
a secured loan that is tied to real estate, where the borrower has to pay the money back to the lender on a set schedule and amount of payments
numerator
the number on top of a fraction's division line or the number of the parts with which you are working
part
a portion of the total amount, the numerator (3 of 3⁄4)
percentage
a fraction or ratio with a denominator of 100, usually written as just the numerator and a % symbol
principal
the amount lent to a borrower to purchase a house
profit
a financial gain
proration
the act of dividing or allocating expenses between buyers and sellers based on the actual period of usage of the item or service L3, C4 The allocation or distribution of an annual expense across smaller chunks of time
ratio
the quantitative relation between two numbers
square footage
a unit of area measurement used to compare the size of buildings (length x width)
total
the "final" or "end result" number, the denominator (4 of 3⁄4)
whole number
any number between zero and infinity that is not a fraction or negative number
THIS SET IS OFTEN IN FOLDERS WITH...