The all-in-rate a bank charges its customer(s) for accepting drafts includes both the discount rate and the acceptance commission.

Question

Quizplus · Accepted Answer

The all-in-rate charged by a bank for accepting drafts includes both the discount rate (the interest rate charged on the face value of the draft) and the acceptance commission (a fee charged for the bank's promise to pay the face value of the draft at maturity).

The All-In-Rate a Bank Charges Its Customer(s) for Accepting Drafts