Unit 4 Vocabulary Review

Front

Mark Up

Back

The amount a retailer increases the price over what they paid for it (wholesale price).

Front

Terminating Decimal

Back

A decimal which can be expressed in a finite number of digits after the decimal point.

Front

Principle (in finance)

Back

The amount of money that is borrowed from a bank or lending institution.

Front

Repeating Decimal

Back

A decimal that has digits that keep going in the same pattern over and over. The repeating digits are marked with a line above them.

Front

Mark Down

Back

A reduction of the original retail sales price in order to increase sales.

Front

Sales Tax

Back

A tax imposed on sales of goods and services, usually calculated as a percentage of the sale price.

Front

Commission

Back

A fee paid to an agent or employee for their services, typically calculated as a percentage of the sales they generate.

Front

Interest

Back

The cost of borrowing money, usually expressed as a percentage of the principal amount.

Front

Discount

Back

A reduction in the price of a product or service, often used to encourage sales.

Front

Wholesale Price

Back

The price charged for goods sold in large quantities, typically to retailers.