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Determine the bond equivalent yield

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Question - The time from acceptance to maturity on a $108,000 banker's acceptance is 120 days. The importer's bank's acceptance commission is 1.52 percent and the market rate for 120-day B/As is 5.69 percent. Determine the bond equivalent yield the importer's bank will earn from discounting the B/A with the exporter.

Reference no: EM133042227

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