39840996
Descrição
FlashCards por Kyra Louthan, atualizado 3 meses atrás
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Criado por Kyra Louthan
3 meses atrás
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| Questão | Responda |
| Bank Discount | The amount of interest charged by a bank on a note MVxBDRxT |
| Bank Discount Rate | Percent on interest charged by the bank |
| Contingent Liability | Potential liability that may or may not result from discounting a note |
| Discount Period | Amount of time to take advantage of a cash discount |
| Discounting a Note | Receiving cash from selling a note to a bank before the due date of a note |
| Effective Rate | True rate of interest. The more frequent the compounding, the higher the effective rate |
| Face Value | Amount of money borrowed (AKA the Principal) |
| Interest-Bearing Note | Maturity value of the note is greater than amount borrowed since interest is added on |
| Maker | The company issuing the note and borrowing the money |
| Maturity Date | The date the principal and interest are due |
| Maturity Value (MV) | The date the |
| Non-Interest Bearing Note | Note where the maturity value will be equal to the amount of money borrowed since no additional interest was charged |
| Payee | The company extending the credit |
| Proceeds | MV-Bank Charge |
| Promissory Note | Written unconditional promise to pay a certain sum (with or without interest) at a fixed time in the future |
| Simple Discount Note | A note in which bank deducts interest in advance |
| Treasury Bill | Loan to the federal government for 91 days(13weeks), 182 days(26 weeks) or 1 year |
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