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Problem 8 - 2 9 Calculate the cost of discounting a $ 1 0 0 , 0 0 0 bankers' acceptance if it is due
Problem
Calculate the cost of discounting a $ bankers' acceptance if it is due in days and is sold at $ Ignore bank fees. Use a Financial calculator to arrive at the answers. Use days in a year. Do not round intermediate calculations. Round the final answer to decimal places.
Cost of discounting
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