Unit 5 Flashcards

(9 cards)

1
Q

Simple Interest

[I]

A

A consistent amount of money paid or earned for the use of money.

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2
Q

Principal

[P]

A

Initial amount of money (borrowed or deposited).

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3
Q

Interest Rate

[R]

A

The percentage of the loan amount (over a length of time) that a borrower must pay for the use of money.

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4
Q

Time

[T]

A

How long it takes to pay back a loan.

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5
Q

Gratuity

(Tip)

A

An amount of money a customer usually pays to work who provides a service, in addition to the due payment.

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6
Q

Commision

A

An additional amount of money earned by an employee based on their number of sales. Realtor

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7
Q

Tax

A

A sum of money you are charged by the government for the purchase of goods and services (in addition to the actual price).

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8
Q

Fee

A

An amount of money you are charged for proceeding

( such as shipping & handling ) or for a payment past due date.

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9
Q

Disturbutive Property

A

Multiplying a number is the same as multiplying it’s addends by a number then adding the products.

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