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Meaning of BANK DISCOUNT

 
WordNet Dictionary
 
 Definition: 
[n]  interest on an annual basis deducted in advance on a loan
 
 Synonyms: discount, discount rate
 
 See Also: bank rate, interest rate, rate of interest

 

 

Webster's 1913 Dictionary
 
 Definition: 
\Bank discount\
A sum equal to the interest at a given rate on the principal
(face) of a bill or note from the time of discounting until
it becomes due.

 

 

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