Question
A company sells $10,000 of goods to a Chinese importer. The importer obtains a letter of credit of 120-day note at a 4.5% discount. Compute
A company sells $10,000 of goods to a Chinese importer. The importer obtains a letter of credit of 120-day note at a 4.5% discount. Compute the letter of credit effective annual return, in percent 2 decimal places?
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Money, Banking, Financial Markets & Institutions
Authors: Michael Brandl
2nd Edition
1337904821, 9781337904827
