# Chapter 6 (Math) Flashcards

commission

a fee paid to a person who makes a sale

interest

the amount of money charged for borrowing or using money, or the amount of money earned by saving money

percent of change

the amount, stated as a percent, that a number increases or decreases

percent of decrease

the amount, stated as a percent, that a number decreases

percent of increase

the amount, stated as a percent, that a number increases

principal

the initial amount of money borrowed or saved

simple interest

a fixed percent of the principal that is paid for the use of the money. It is found using the formula I=Prt, where P represent the principal, r the rate of interest, and t the time

rate of interest

the percent changed or earned on an amount

commission rate

the fee paid to a person who makes the sale expressed as a % of the selling price