Assume a U.S. Importer signs a 90-day promissory note with his bank for the face...
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Assume a U.S. Importer signs a 90-day promissory note with his bank for the face value of the banker's acceptance. due on the maturity date of the banker's acceptance. The face amount of the promissory note is $1.000.000 and the Importer's bank charges an acceptance commission of 2%. What is the amount that the exporter will receive on the maturity day of the bank acceptance? O $995,000 $20,000 $980.000 $5,000
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