The time from acceptance to maturity on a $30,000,000 banker's acceptance is 45 days.The importing bank's acceptance commission is 1.5 percent and that the market rate for 45-day B/As is 4½ percent.
Calculate the amount the banker will receive if the exporter discounts the B/A with the importer's bank.

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The Answer of The time from acceptance to maturity on a $30,000,000 banker's acceptance is 45 days.The importing bank's acceptance commission is 1.5 percent and that the market rate for 45-day B/As is 4½ percent.
Calculate the amount the banker will receive if the exporter discounts the B/A with the importer's bank.

The Time from Acceptance to Maturity on a $30,000,000 Banker's