Match the following terms with their definitions.
-Bank discount rate
A) Number of days bank will wait for its money in the discount process
B) Cash paid on due date
C) The principal
D) Maturity value minus bank discount
E) A written promise
F) Bank deducts interest in advance
G) Signs the note
H) Rate bank charges in the discounting process
I) True rate of interest
J) Due date
K) Ability to borrow quickly
L) Amount bank charges in the discounting process
M) Maturity value greater than original note
Correct Answer:
Verified
Q60: Shelley Corporation discounted a $7,000, 90-day note
Q61: On October 18, Blue Ridge Corporation accepted
Q62: Calculate the maturity value for this interest-bearing
Q63: Match the following terms with their definitions.
-Promissory
Q64: On May 12, Bob Campbell accepted a
Q66: Complete the following for this interest-bearing
Q67: Mobilee Oil Company accepted a $10,000, 120-day
Q68: Compute (A)bank discount, (B)proceeds for the following
Q69: Match the following terms with their definitions.
-Discount
Q70: Jone Corporation accepted a $25,000, 8%, 120-day
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