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Determine the amount the exporter will receive

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Problem 1: Assume the time from acceptance to maturity on a $108,000 banker's acceptance is 90 days. Further assume that the importing bank's acceptance commission is 1.29 percent and that the market rate for 90-day B/As is 7.6 percent. Determine the amount the exporter will receive if he discounts the B/A with the importer's bank.

Reference no: EM132953558

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