Assume Nikken Microsystems has sold Internet servers to Telecom Espaa for 700,000. Payment is due in 3
Question:
Assume Nikken Microsystems has sold Internet servers to Telecom España for €700,000. Payment is due in 3 months and will be made with a trade acceptance from Telecom España Acceptance. The acceptance fee is 1.0% per annum of the face amount of the note. This acceptance will be sold at a 4% per annum discount. What is the annualized percentage all-in-cost in euros of this method of trade financing?
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Assumptions Values Face amount of sale 700000 Maturity days 90 Trade acceptance fee per annum 100...View the full answer
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Related Book For 
Multinational Business Finance
ISBN: 978-0133879872
14th edition
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
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