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Posted on Sep 20, 2024

There is a 9 1 day bankers' acceptance worth R 5 0 0 0 0 0 0 0 . The discount rate is 9 .

There is a

91

day bankers' acceptance worth R

50 000 000 .

The discount rate is

9.95 % .

Historic returns for bankers' acceptances are

8.82 % .

If there is an acceptance commission of

1.5 %

what is the price of the bankers' acceptance?

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