The time from acceptance to maturity on a $95,000 bankers acceptance is 120 days. The...
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Accounting
The time from acceptance to maturity on a $95,000 bankers acceptance is 120 days. The importers banks acceptance commission is 1.52 percent and the market rate for 120-day B/As is 5.57 percent. What amount will the exporter receive if he discounts the B/A with the importers bank? (USD, no cents)
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