Using the Chef's Magic Circle, Complete the Following

question 25

Short Answer

Using the Chef's Magic Circle, complete the following. Round percent answers to the nearest hundredth and money answers to the nearest cent. Food Cost: $2,632 Food Cost Percent: 31.1% Sales Price: $_______________

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Definitions:

Amortized

The process of paying off a debt through regular payments, where each payment covers both interest and a portion of the principal amount.

Compounded Annually

Interest on an investment is calculated once a year, with the interest added to the principal.

Equal Payments

Equal payments refer to the financial concept where the amount of money paid in each installment of a loan or investment is the same throughout the term.

19th Payment

Refers to the nineteenth installment in a series of scheduled payments for a loan or mortgage.