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The Time from Acceptance to Maturity on a $300,000 Banker's

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Essay

The time from acceptance to maturity on a $300,000 banker's acceptance is 30 days.The importing bank's acceptance commission is 3 percent and the market rate for 30-day B/As is 4 percent.
Determine the amount the exporter will receive if he holds the B/A until maturity.


Definitions:

Taft-Hartley Act

A law enacted by the federal government in 1947 within the United States, aimed at constraining the operations and capabilities of labor unions.

Closed-shop Agreements

Closed-shop agreements are labor contracts requiring employers to hire only union members, typically to ensure worker unity in negotiations and workplace standards, though they are restricted or illegal in some jurisdictions.

Landrum-Griffin Act

A U.S. law aimed at regulating labor unions' internal affairs and their officials, promoting democracy, and safeguarding union members' rights.

Permissive Items

Aspects of labor negotiations where employers are not obligated but are allowed to discuss and agree upon with employees or their representatives.

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