In discounting an interest-bearing note, the discount period represents:

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The discount period represents the number of days from the date of discount to the date of maturity. This is the period for which interest is deducted in advance, and it is important in determining the effective interest rate on the note. The maturity date represents the date when the principal amount of the note is due, and the date of the original note is simply the date when it was issued. Neither of these is the same as the discount period.

In Discounting an Interest-Bearing Note, the Discount Period Represents