For the service of providing letter of credit,the bank's service charge ranges between ____________ of the value of L/C.
A) 5 to 7 percent
B) 10 to 15 percent
C) 3 to 4 percent
D) 0.5 to 2 percent
E) 1 to 3 percent

Question

Quizplus · Accepted Answer

The bank's service charge for providing a letter of credit (L/C) usually ranges between 0.5 to 2 percent of the value of L/C. Therefore, option D is the best choice as it falls within this range. Options A, B, C, and E are not correct as they either exceed or fall short of this range.

For the Service of Providing Letter of Credit,the Bank's Service