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19 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Percent |
Percent: Per 100 |
You always gotta keep it? What? |
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Absolute Change |
In a quantity that changes over time, the absolute change is thedifference between the new value and the reference (beginning) value. |
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Relative (Percent) Change: |
In a quantity that changes over time, the relative change isabsolute change/reference value ∗ 10 |
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Absolute Difference |
When comparing quantities, the absolute difference is the comparedvalue minus the reference value |
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Relative (Percent) Difference |
When comparing quantities, the relative difference isabsolute difference/reference value ∗ 100% |
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Scientific Notation: |
a format in which a number is expressed as a number between 1 and 10multiplied by a power of 10 |
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Order of Magnitude Estimate: |
Specifies only a broad range of values, usually within one or two powers of ten. For example, we might say “in the thousands” or “in the millions” |
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Scaling: |
To create a representation by reducing or increasing in size according to a commonscale |
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Scale Ratio: |
: The ratio of distance on a map to actual distance |
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Budgeting |
The process of analyzing how much money is coming in and how much is beingspent and making adjustments to live within your means |
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Gross Pay or Income: |
This is your income before deductions like taxes, insurance premiums,retirement contributions etc. |
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Net or Take-Home Pay: |
This is your income after deductions. It is the amount that actuallygoes into your account |
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Expenses: |
Expenses are those goods or services you spend money on. Some expenses arefixed, some are variable, some are necessary and some are not (luxuries) |
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Net Cash Flow: |
Total net – total expenses |
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Savings Plan: |
A system for long term saving in which regular contributions (payments) are madeand the balance earns interest. Examples are Individual Retirement Accounts (IRAs), 401K plans,529 college savings plans |
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Savings Plan Formula |
This formula calculates the accumulated account balance in a savings plan |
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Installment Loan |
A loan that you pay off with equal regular payments. This is also called anamortized loan. |
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Principal: |
The total amount of the loan (amount you borrowed) |
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Loan Payment Formula: |
This formula calculates the regular payment amount needed to pay offan installment loan with various conditions. |
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