1.The time from acceptance to maturity on a $500,000 banker's acceptance is 270 days. The importing bank's acceptance commission is 0.75 percent and that the market rate for 270-day B/As is 4 percent. Calculate the amount the banker will receive if the exporter discounts the B/A with the importer's bank.

2. The time from acceptance to maturity on a $1,000,000 banker's acceptance is 60 days. The importing bank's acceptance commission is 1.00 percent and that the market rate for 60-day B/As is 5 percent.Determine the amount the exporter will receive if he holds the B/A until maturity.