bank discount

noun

Definition of bank discount 

: the interest discounted in advance on a note and computed on the face value of the note

First Known Use of bank discount

1803, in the meaning defined above

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The first known use of bank discount was in 1803

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bank discount

noun

Legal Definition of bank discount 

: the interest that is discounted in advance on a note and computed on the face value of the note

More from Merriam-Webster on bank discount

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Britannica English: Translation of bank discount for Arabic Speakers

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