Suppose the face amount of a promissory note is $1,000,000 and the importer's bank charges an acceptance commission of 1.5 percent.The note is for 60 days.Calculate the amount of the acceptance commission that the bank will charge.
A) $997,500
B) $15,000 = $1,000,000 × (0.015)
C) $2,500
D) none of the options
Correct Answer:
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A)30
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A)becoming obsolete as a means
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A)a document
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A)the importer only pays
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