author: lister wayne horn

... interchange Interchange 3 -2 Interchange -1-2 20-2 Interchange 10 31 20 | — 2 || Smallest value is shifted in rightmost position End of pass 1 10 3-1 20-2 No interchange No interchange End of pass 2 Interchange 20 -1 10 3 20-1-2 10 3 20 ...

... simple discount is the amount deducted from the maturity value S ( see problem 26 ) of an obligation when the latter is sold before its date of maturity . The formula is S • D • N. SD = simple discount , S = simple discount , S ...