Match the following terms with their definitions.
-Maturity value
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
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Q47: Match the following terms with their definitions.
-Proceeds
A)Number
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Q53: United Missouri Bank discounts a 120-day note
Q54: Match the following terms with their definitions.
-Simple
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