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Requlred: Assume the time from acceptance to maturlty on a $2,080,000 banker's acceptance is 90 days. Further assume that the Importing bank's acceptance commission is

image text in transcribed Requlred: Assume the time from acceptance to maturlty on a $2,080,000 banker's acceptance is 90 days. Further assume that the Importing bank's acceptance commission is 1.25 percent and that the market rate for 90 -day B/As is 7 percent. Determine the amount the exporter will recelve If he holds the B/A untll maturity and also the amount the exporter will recelve If he discounts the B/A with the Importer's bank. Note: Do not round Intermedlate calculations

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