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arithmetical discount

noun
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Definition of arithmetical discount

: the interest discounted in advance on a note and computed on the principal of the note the arithmetical discount on a $1000 note for one year at 5% is $47.62

— called also true discount

— compare bank discount

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“Arithmetical discount.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/arithmetical%20discount. Accessed 10 Jul. 2020.

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