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17 Cards in this Set
- Front
- Back
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refers to the face value or the amount borrowed |
PRINCIPAL |
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rental for the use of money |
INTEREST |
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refers to the percentage |
INTEREST RATE |
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refers to the interest that a debtor is obliged to pay the creditor |
INTEREST EXPENSE |
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refers to the interest that a creditor is entitled to receive from the debtor |
INTEREST INCOM |
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refers to the amount that is due at the maturity date |
MATURITY VALUE |
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refers to the date when the notes become due for payment or collection |
MATURITY VALUE |
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refers to the date when the note was made and signed |
DATE OF THE NOTE |
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refers to life of the note |
TERM OF THE NOTE |
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it is equal to the face amount of the note |
NON INTEREST BEARING NOTE |
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it is equal to the face amount of the note + interest |
INTEREST BEARING NOTE |
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Refers to the period from the date of the note up to the maturity date |
TIME |
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refers to the act of transferring a note with recourse to a bank |
DISCOUNTING NOTES |
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refers to the amount received by the endorser to from the endorsee |
PROCEEDS |
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amount deducted from the maturity value |
DISCOUNT |
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refers to the rate charged by the bank upon discounting |
DISCOUNT RATE |
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refers to numbers of days from the date of discounting up to maturity date of the note |
DISCOUNT PERIOD |
