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discount
A Dictionary of Finance and Banking, January, 1997
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discount 1. A deduction from a bill of exchange when it is purchased before its maturity date. The party that purchases (discounts) the bill pays less than its face value and therefore makes a profit when it matures. The amount of the discount consists of interest calculated at the bill rate for the length of time that the bill has to run.
See DISCOUNT MARKET . 2. A reduction in the price of goods ...
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