[Solved] When the stated rate of interest exceeds the effective rate, the present value of the note receivable will be less than its face value. Occult Blood: Blood present in such small quantities that it is not visible to the naked eye, often detected through specific tests. External Sphincter: A circular muscle that helps to control the passage of substances out of a body cavity or organ, such as the anus or urethra. Anal Area: The region surrounding the anus, which is the external opening of the rectum, important in the defecation process and subject to various medical conditions. Steatorrhea: The presence of excess fat in feces, usually indicative of malabsorption issues or diseases affecting the pancreas, liver, or gastrointestinal tract.