Mazuma Sdn. Bhd., a Malaysian company enters into a trade agreement with Mavin Int., a Singaporean company.
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Question:
Mazuma Sdn. Bhd., a Malaysian company enters into a trade agreement with Mavin Int., a Singaporean company. This is the first transaction between the two companies and Mazuma Sdn. Bhd. requires a banker’s acceptance for the order of MYR1,000,000. The payment for the banker’s acceptance is to be received in six months and it comes with a per annum commission of 1.4%. If Mazuma Sdn. Bhd. decides to sell the banker’s acceptance to its local bank, the discount rate is 1.0% p.a.
How much is Mazuma Sdn. Bhd. expects to receive if the company takes the payment today?
a.
MYR 995,000
b.
MYR 996,000
c.
MYR 988,000
d.
MYR993,000
Related Book For
Management A Practical Introduction
ISBN: 978-0078112713
5th edition
Authors: Angelo Kinicki, Brian Williams
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