The time from acceptance to maturity on a $6,000,000 banker's acceptance is 360 days.The importing bank's acceptance commission is 2 percent and the market rate for 360-day B/As is 3 percent.
Determine the bond equivalent yield the importer's bank will earn from discounting the B/A with the exporter.

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The Answer of The time from acceptance to maturity on a $6,000,000 banker's acceptance is 360 days.The importing bank's acceptance commission is 2 percent and the market rate for 360-day B/As is 3 percent.
Determine the bond equivalent yield the importer's bank will earn from discounting the B/A with the exporter.

The Time from Acceptance to Maturity on a $6,000,000 Banker's