Calculate the cost of discounting a $100,000 bankers' acceptance if it is due in 90 days and

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Calculate the cost of discounting a $100,000 bankers' acceptance if it is due in 90 days and is sold at $97,915. Ignore bank fees.

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Foundations of Financial Management

ISBN: 978-1259024979

10th Canadian edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta

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Question Posted: Sep 15, 2018 07:30 AM

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Calculate the cost of discounting a $100,000 bankers' acceptance if it is due in 90 days and

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Effective annual yield 892 ...View the full answer

Foundations of Financial Management

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