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A Canadian exporter has received a deferred L / Cs for his export of crude canola oil with the following value - and maturity date:
A Canadian exporter has received a deferred LCs for his export of crude canola oil with the following valueand maturity date:
Value: USD
Maturity: Oct.
A forfaiting institution has accepted to discount purchase the LC on Apr.
with the annual discount rate of
What is the amount the forfaiting will pay the exporter on Apr. with decimal
Note: the First and last day are included in the period of discounting.
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