The Time from Acceptance to Maturity on a $1,000,000 Banker's

question 88

Essay

The time from acceptance to maturity on a $1,000,000 banker's acceptance is 90 days.The importing bank's acceptance commission is 3½ percent and that the market rate for 90-day B/As is 5 percent.
Calculate the amount the banker will receive if the exporter discounts the B/A with the importer's bank.

---

Definitions:

Spell Checker

A software tool or feature that checks and corrects spelling errors in text.

Comma Style

A formatting style in spreadsheet applications that applies commas as thousands separators and adjusts the decimal point for numbers.

Cell Value

In spreadsheet applications, the data or formula contained within a cell, which can be text, numbers, dates, or logical values.

Cell Default

The pre-set value or format of a cell in spreadsheet software, which can be automatically applied to new or existing cells.