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Percent of Change Vocab Terms
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Percent Percent of Change Percent Increase Percent Decrease Mark up Discount Simple Interest Annual Interest rate Balance Principal Interest
Terms in this set (11)
percent
a ration whose denominator is 100. The symbol for percent is %.
percent of change
a percent that indicates how much a quantity increases or decreases with respect to the original amount
percent increase
the percent of change in a quantity when the new amount is greater than the original amount.
percent decrease
the percent of change in a quantity when the new amount is less than the original amount.
markup
the increase from the wholesale price of an item to the retail price
discount
the decrease from the original price of an item to the sale price.
simple interest
interest that is earned or paid only on the principal.
Simple interest=I is the product of the principal P, the annual interest rate r(written as a decimal) and the time t in years: I=Prt
annual interest rate
the percent of the principal earned or paid per year.
balance
the sum of the principal and all interest earned
principal
an amount of money that is deposited or borrowed
interest
the amount earned or paid for the use of money.
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