True/False
A discount loan is a loan on which interest is paid in advance by deducting it from the loan so that the borrower actually receives less money than is requested.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q56: The interest rate on a line of
Q57: The security agreement is an agreement between
Q58: For firms that are in a financial
Q59: XYZ Corporation borrowed $100,000 for six months
Q60: The major attraction of a line of
Q62: A firm is offered credit terms of
Q63: Bessey Aviation has just sold an issue
Q64: Aunt Tilly's Feeds, Inc. is considering obtaining
Q65: Tangshan Mining borrowed $100,000 for one year
Q66: A firm arranged for a 120-day bank