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A Chinese exporter sells $400,000 of toys to a French importer. The Chinese exporter requires the French importer to obtain a letter of credit. When
A Chinese exporter sells $400,000 of toys to a French importer. The Chinese exporter requires the French importer to obtain a letter of credit. When the bank accepts the draft the exporter discounts the 90 day note at a 5.6% discount.
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SOLUTION The exporters true effective annual financing cost is 63 The discount rate of 56 is the nom...
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International Business Law and Its Environment
Authors: Richard schaffer, Filiberto agusti, Beverley earle
7th Edition
78-0324649673, 324649673, 978-0324649659
