Welcome back 7th graders! Hope you all had a great spring break!
Lesson 12 has a lot of new vocabulary. In class this week we will be writing the words and definitions (found below) into our vocab section of our notebooks. You will then be responsible to complete a Frayer Model for each vocab word. The completed Frayer Models will be due to me at the beginning of class on Friday April 12th!
Lesson 12 Vocab
Simple Interest-a percent of an amount borrowed that is paid to the lender in addition to the amount borrowed.
Tax- a percent of a purchase that is added to the purchase and paid to the government
Markup- a percent added to the cost of an item to determine the selling price
Markdown- the amount by which a price is reduced
Gratuity- a percent added on to the cost of a service.
Commission- a percent of a sales amount awarded to the person making the sale
Fee-a sum paid or charged for a service