Practical Methods in Arithmetic
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In our eReader you can find the full English version of the book. Read Practical Methods in Arithmetic Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Practical Methods in Arithmetic
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They present a safe form of deposit from which sums of money may be checked out at any time. And in this way they greatly facilitate local exchanges. The bank is the purse of society and readily responds to every demand made upon it.
The manner in which exchanges are made between different places by means of banks will be explained under the head of exchange.
Banks are the usual purchasers of notes, and they have a different method for computing discount from the method given under True Discoun...t. If a note is due in three months the bank simply subtracts inter- est on the face of the note for the given time.
Bank Discount is interest on the face or amount of the debt paid in advance.
It is evident that by this method the discount will be greater than true discount, and hence the rate of profit greater to the creditor. It really raises the rate of interest paid by the debtor. For example, a man presents his note at the bank for $100, due in one year. The bank discounts it at 10 per cent.
What to read after Practical Methods in Arithmetic?
You can find similar books in the "Read Also" column, or choose other free books by R S Galer to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
They present a safe form of deposit from which sums of money may be checked out at any time. And in this way they greatly facilitate local exchanges. The bank is the purse of society and readily responds to every demand made upon it.
The manner in which exchanges are made between different places by means of banks will be explained under the head of exchange.
Banks are the usual purchasers of notes, and they have a different method for computing discount from the method given under True Discoun...t. If a note is due in three months the bank simply subtracts inter- est on the face of the note for the given time.
Bank Discount is interest on the face or amount of the debt paid in advance.
It is evident that by this method the discount will be greater than true discount, and hence the rate of profit greater to the creditor. It really raises the rate of interest paid by the debtor. For example, a man presents his note at the bank for $100, due in one year. The bank discounts it at 10 per cent.
What to read after Practical Methods in Arithmetic?
You can find similar books in the "Read Also" column, or choose other free books by R S Galer to read onlineMoreLess
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