The time from acceptance to maturity on a banker's acceptance (B/A)is 90 days,the importing bank's acceptance commission is 1 percent and the B/A's discounted value at the time of acceptance is $1,000,000.If the 90-day B/A rates are 5%,determine the amount the exporter will receive if he holds the B/A until maturity.

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The Answer of The time from acceptance to maturity on a banker's acceptance (B/A)is 90 days,the importing bank's acceptance commission is 1 percent and the B/A's discounted value at the time of acceptance is $1,000,000.If the 90-day B/A rates are 5%,determine the amount the exporter will receive if he holds the B/A until maturity.

The Time from Acceptance to Maturity on a Banker's Acceptance