The Time from Acceptance to Maturity on a $3,000,000 Banker's

question 76

Multiple Choice

The time from acceptance to maturity on a $3,000,000 banker's acceptance is 90 days. 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.

• A)$2,945,625
• B)$2,990,625
• C)$2,906,250
• D)$3,009,375

---

Definitions:

Automatic Stabilizer

Economic policies and programs, such as unemployment benefits, that automatically adjust to stabilize an economy's fluctuations without direct intervention by policymakers.

Welfare

Financial and social support programs provided by the government to assist individuals and families in need.

Transfer Payments

Money or benefits distributed by the government to individuals without requiring a direct exchange of goods or services, often aimed at providing social welfare.

Tax Cuts

Reductions in the amount of tax that individuals or corporations are required to pay to the government.