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  3. Study Set
    Practical Business Math Procedures Study Set 2
  4. Exam
    Exam 11: Promissory Notes, Simple Discount Notes, and the Discount Process
  5. Question
    Bank Discount on a Simple Discount Note Is Based on the Amount
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Bank Discount on a Simple Discount Note Is Based on the Amount

Question 2

Question 2

True/False

Bank discount on a simple discount note is based on the amount a borrower receives and not what he or she pays back.

Correct Answer:

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