BUSMATH

• List Price


  Manufacturer's suggested retail price of a product
• Trade Discount


  Amount deducted from the list price of a product
• Net Price


  Resulting price after the discount is applied
• Discount Method


  Sellers may offer successive trade discounts to dispose of their goods quickly
• Profit


  Difference between gross revenue and total cost
• Loss


  Difference between the total cost and the generated revenue
• Breakeven


  Total revenue generated is equal to the total cost incurred
• Simple Interest


  Interest calculated on the original principal only
• Compound Interest


  Interest calculated on the principal and the interest earned from previous interest periods
• Present Value


  Amount to be invested
• Future Value


  Target specific value in the problem
• Annuity


  Series of payments made at regular time intervals
• Loan Amortization


  Reduced by the amount of interest owed on the outstanding balance
• Principal Repayment


  Remaining amount, deducted from the outstanding balance to retire the loan principal
• Compensation


  Remuneration in cash and in kind paid to employees at regular intervals for time of work or work done
• Salary


  Earn at fixed rate that is quoted on a weekly, monthly, bimonthly, or an annual basis
• Wages


  Quoted on an hourly basis
• Gross Income


  Income that is computed prior to any deductions such as SSC, health insurance contributions, and withholding taxes
• Net Income


  Amount received by the employee after all taxes and contributions have been deducted from the gross income
• Bundy Clocks


  Machines which automatically record the time in and time out of employees on their designated time cards