A company sells $10,000 of goods to a Chinese importer. The importer obtains a letter of credit

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A company sells $10,000 of goods to a Chinese importer. The importer obtains a letter of credit of 120-day note at a 4.5% discount. Compute the letter of credit effective annual return, in percent 2 decimal places?

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Entrepreneurial Finance

ISBN: 978-0133140514

6th edition

Authors: Philip J. Adelman; Alan M. Marks

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Posted Date: Nov 29, 2020 01:00 AM

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A company sells $10,000 of goods to a Chinese importer. The importer obtains a letter of credit

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