Meaning of BANK DISCOUNT
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 WordNet Dictionary |
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| | Definition: | |
[n] interest on an annual basis deducted in advance on a loan |
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| | Synonyms: | | discount, discount rate |
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| | See Also: | | bank rate, interest rate, rate of interest | |
| Webster's 1913 Dictionary |
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| | 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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