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A letter of credit has been sent to the supplier containing the following info: Price per unit 3 dollars Quantity: 10000 unites Payment after 3
A letter of credit has been sent to the supplier containing the following info: Price per unit 3 dollars Quantity: 10000 unites Payment after 3 months The supplier is in need of cash has accepted the letter of credit and wants to finance his tresory for this they will ask his bank to pay him in advance, after 2 days supplier receives acceptance from his bank with the following information : Interest rate 5 % The fees 60MAD The exchange rate 1dollar= 10MAD How much should this supplier receive from his bank
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