1) ______________________ is the person to whom the payment is to be made. a) Maker b) Payee c) Promisor 2) ______________________ is also known as interest in advance. a) Maturity value b) Discount rate c) Bank discount 3) How to find bank proceeds? a) D = Sdt b) I = Prt c) P = S - D 4) Can promissory note be sold to a bank before its maturity date? a) Yes b) No 5) _____________________ is the period from date of note to the maturity date. a) Term of note b) Maturity Value c) Proceeds

Chapter 7

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