Examlex
On what day will the amount of interest earned reach $5,000 if $250,000 was invested at an interest rate of 11% on June 23?
Payor Bank
The bank that dispenses the payment on a written draft or check upon presentation.
Drawee Bank
The financial institution upon which a check is drawn or which is directed to pay the specified amount.
Collecting Bank
A financial institution involved in processing items for payment, such as checks, on behalf of a depositor.
Collecting Bank
A bank that handles the processing of payments (like checks) on behalf of the payee or a client bank.
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