If the importing bank's acceptance commission is 1.25 percent,determine the amount the exporter will receive if he holds the B/A until maturity.(Assume 360 days in a year)

Name: If the importing bank's acceptance commission is 1.25 percent,determine the amount the exporter will receive if he holds the B/A until maturity.(Assume 360 days in a year)
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If the exporter holds the B/A to maturity he will receive: $3,000,000 × [1 - (0.0125 × 90/360)] = $2,990,625

If the Importing Bank's Acceptance Commission Is 1