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The time from acceptance to maturity on a $500,000 banker's acceptance is 270 days. The importing bank's acceptance commission is 0.75 percent and that the
The time from acceptance to maturity on a $500,000 banker's acceptance is 270 days. The importing bank's acceptance commission is 0.75 percent and that the market rate for 270-day B/As is 4 percent. Calculate the amount the banker will receive if the exporter discounts the B/A with the importer's bank
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