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The time from acceptance to maturity on a $1,000,000 bankers acceptance is 90 days. The importers BA commission is 2.25% and the market rate for

The time from acceptance to maturity on a $1,000,000 bankers acceptance is 90 days. The importers BA commission is 2.25% and the market rate for 90day BAs are 6.00%. i) What amount will the exporter receive if he discounts the B/A with the importers bank? (3 Marks) ii) What amount will the exporter receive if they choose to hold the BA to maturity? (3 Marks)

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