When a business receives a promissory note as payment for goods or services and in turn sells the note to a bank it is called:
A) proceed advance
B) discounting
C) maturity value
D) fraud
Correct Answer:
Verified
Q2: The number of days, months, or years
Q3: The formula to find principal is "principal
Q4: With exact time, in a non-leap year,
Q5: The amount of money borrowed is called:
A)
Q6: Using ordinary time, a loan that starts
Q7: When making a partial payment before the
Q8: When determining ordinary interest, dividing by 360
Q9: The length of time for which money
Q10: The lowest rate of interest charged by
Q11: Simple interest is often used when a
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