The time from acceptance to maturity on a $1,000,000 banker's acceptance is 90 days.The importing bank's acceptance commission is 3½ percent and that the market rate for 90-day B/As is 5 percent.
Determine the amount the exporter will receive if he discounts the B/A with the importer's bank.

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The Answer of The time from acceptance to maturity on a $1,000,000 banker's acceptance is 90 days.The importing bank's acceptance commission is 3½ percent and that the market rate for 90-day B/As is 5 percent.
Determine the amount the exporter will receive if he discounts the B/A with the importer's bank.

The Time from Acceptance to Maturity on a $1,000,000 Banker's