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Please dont give long explanations, I really need the answer as soon as possible. Thank you so much Based on the following information, answer the
Please dont give long explanations, I really need the answer as soon as possible. Thank you so much
Based on the following information, answer the questions below. The time from acceptance to maturity on a $15m Banker's Acceptance (BA) is 30 days. The importer's banks acceptance commission is 12% and the market rate for 30 day BA is 17%. a) What amount will the exporter receive if they hold the BA to maturity? Answer to the nearest cent. If your answer is $9 you must write as 9.00 (1 Mark) Answer: b) What amount will the exporter receive if he discounts the BA? Answer to the nearest cent. If your answer is $9 you must write as 9.00 (1 Mark)Step by Step Solution
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