The Percent of Markdown Can Be Calculated by Using the Percentage

question 44

Multiple Choice

The percent of markdown can be calculated by using the percentage formula which is:

• A) rate equals portion divided by base
• B) base equals portion divided by rate
• C) portion equals rate divided by base
• D) rate equals portion times base

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Definitions:

Intermediate Calculations

Calculations performed as steps toward solving a final problem or arriving at a final figure, often used in mathematical or financial analyses.

Maturity Date

The specified date on a financial instrument at which the principal (or final payment) is due to be paid.

Promissory Note

A financial document in which one party promises in writing to pay a determinate sum of money to another party under specific terms.

Principal

The face amount of the note.