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Assume the time from acceptance to maturity on a $104,000 bankers acceptance is 90 days. Further assume that the importing banks acceptance commission is 1.14

Assume the time from acceptance to maturity on a $104,000 bankers acceptance is 90 days. Further assume that the importing banks acceptance commission is 1.14 percent and that the market rate for 90-day B/As is 7 percent. Determine the amount the exporter will receive if he holds the B/A until maturity (USD, no cents)

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