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Suppose the face amount of a promissory note is ( $ 1,000,000 ) and the importer's bank charges an acceptance commission of 1.5 percent. The
Suppose the face amount of a promissory note is \\( \\$ 1,000,000 \\) and the importer's bank charges an acceptance commission of 1.5 percent. The note is for 60 days. Calculate the amount of the acceptance commission that the bank will charge. \\( \\$ 997,500 \\) \\( \\$ 15,000=\\$ 1,000,000 \\times(0.015) \\) \\( \\$ 2,500 \\) none of the options
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