The face amount of a promissory note is called the:
A) discount of the note.
B) time of the note.
C) interest rate of the note.
D) principal of the note.

Name: The face amount of a promissory note is called the: A) discount of the note. B) time of the note. C) interest rate of the note. D) principal of the note.
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Question

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The face amount or value that a borrower promises to repay to the lender at a specified time is called the principal of the note.

The Face Amount of a Promissory Note Is Called The