| 单词 | bank discount |
| 释义 | > as lemmasbank discount bank discount n. Banking and Finance (originally and chiefly U.S.) the discount (discount n. 3a) calculated by a bank when purchasing a bill of exchange or promissory note before its maturity date, based upon the interest that would accrue during the time it still had to run and the credit risk it presents; (in later use) interest computed on the face value of a loan and deducted in advance by the lending bank.Bank discount is typically calculated using an accounting year of 360 days. ΚΠ 1803 W. M. Finlay Arithm. Mag. 111 We now come to Practical Interest, or Bank Discount. 1867 I. Mayhew University Bk.-keeping (1870) 145 The Bank Discount of a Note subtracted from its face, will give the proceeds of the Note, or its present worth by the usage of Banks. 1940 Statist. Abstr. U.S. 1939 (U.S. Dept. Commerce) No. 61. 207 The average sale price gives an approximate yield on a bank-discount basis. 1997 R. A. Brechner Contemp. Math. for Business & Consumers x. 325 Because bank discount is the same as interest, we use the formula I=PRT as before, substituting bank discount for interest, face value for principal, and discount rate for interest rate. < as lemmas |
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