| A | B |
|---|
| Amount | The balance in your account at the end of an interest period. |
| Compound Interest | Interest earned not only on the original principal but also on the interest earned during previous interest periods. |
| Interest Formula | Principal x Rate x Time |
| Simple Interest | Interest paid on the original principal. |
| Annual Interest Rate | The percent of the principal that you earn as interest based on one year. |
| Interest Rate | The percent of interest you earn on your savings. |
| Principal | The amount of money earning interest. |
| Compound Interest Table | Shows the amount of $1.00 for many interest rates and interest periods. |
| Interest | The percent of interest you earn on your savings. |
| Daily Compounding | Interest that is compounded daily, computed each day and added to the account balance. |
| Discount | Another name for markdown |
| Sales Receipt | Proof of purchase |
| Coupons | Redeem at the time of purchase |
| Better Buy | The size with the lower unit price |
| Rebates | Another name for refunds |
| Refunds | Another name for rebates |
| Unit Price | Cost per unit of measure or count |
| Sales Tax | Many state, county, and city governments charge this on certain items or services that you buy. |
| Discount Rate | The markdown expressed as a precent of its regular selling price |
| Markdown | Another name for discount |
| Promissory Note | A written promise to pay a certain sum of money on a certain date in the future. |
| Term | The amount of time for which the loan is granted. |
| Installment Loan | A loan that you repay in several equal payments over a specified period of time. |
| Principal | The amount borrowed |
| Final Payment | The previous balance plus the current month's interest. |
| Ordinary Interest | Calculated by basing the time of the loan on a 360-day year. |
| APR | Annual Percentage Rate |
| Single-Payment Loan | May be granted for a stated number of years, months, or days. |
| Maturity Value | The total amount of a loan you repay. |
| Repayment Schedule | Shows the distribution of interest and principal over the life of the loan. |
