Question
A three-month Banker's Acceptance has a face value of $100,000. The bank's acceptance commission is 1.5% per annum for three months. he exporter can discount
A three-month Banker's Acceptance has a face value of $100,000. The bank's acceptance commission is 1.5% per annum for three months.
he exporter can discount the acceptance now and receive the funds at once. If the discount rate are 1.14% per annum, the exporter would receive how much after deducting all of the charges?
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Small Business Terms Financial Education Is Your Best Investment
Authors: Thomas Herold
1st Edition
1798900483, 978-1798900482
