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The time from acceptance to maturity on a $300,000 banker's acceptance is 30 days. The importing bank's acceptance commission is 3 percent and the market

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The time from acceptance to maturity on a $300,000 banker's acceptance is 30 days. The importing bank's acceptance commission is 3 percent and the market rate for 30-day B/As is 4 percent. Determine the amount the exporter will receive if he discounts the B/A with the importer's bank

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