Which of the following money market investments is a draft written by the borrower and guaranteed by the bank on which the draft is drawn. Typically used in international trade transactions. The borrower is an importer who writes the draft in payment for goods?

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A Banker's Acceptance is a draft drawn by a borrower/importer on a bank, which guarantees payment at maturity. It is commonly used in international trade transactions.

Which of the Following Money Market Investments Is a Draft