If the Importing Bank's Acceptance Commission Is 1

question 12

Multiple Choice

If the importing bank's acceptance commission is 1.25 percent,determine the amount the exporter will receive if he holds the B/A until maturity.(Assume 360 days in a year)

• A) $2,945,625.
• B) $2,990,625.
• C) $3,000,000.
• D) $3,009,375.

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Definitions:

Lack Of Response

A situation where there is an absence of reaction or reply to a stimulus, action, or communication.

UCC

A broad spectrum of legislation that directs commercial activities in the United States is encapsulated in the Uniform Commercial Code.

Seller/Lessor

A party in a transaction that provides goods or property to a buyer or lessee under the terms of a contract.

Buyer/Lessee

An individual or entity that purchases or leases goods or property from another party under agreed-upon terms.