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The time from acceptance to maturity on a $2,000,000 banker's acceptance is 90 days.The importing bank's acceptance commission is 1.25 percent and the market rate for 90-day B/As is 6 percent.
Calculate the amount the banker will receive if the exporter discounts the B/A with the importer's bank.
Signatories
Parties that have signed a document, often a contract or agreement, indicating their acceptance of its terms.
Wills
A legal document by which a person expresses their wishes as to how their property is to be distributed at death and names one or more persons to manage the estate until its final distribution.
Express
Clearly and unmistakably communicated, directly stated, or specified.
Settlor
An individual or entity that creates a trust by legally transferring assets to a trustee for the benefit of beneficiaries.
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