Question: please answer entire question please look at latest picture for the question image is clear pwar.) BlackComb Sports (A). BiackComb Sports (BlackComb) is considering bidding
pwar.) BlackComb Sports (A). BiackComb Sports (BlackComb) is considering bidding to sell $117,000 of ski equlpment to Phang Family Enterprises of Seoul, Korea. Payment would be due in six months. Since BlackComb cannot find good credit information on Phang, BiackComb wants to protect its credit risk. It is considering the following financing solution. Phang's bank issues a letter of credit on behalf of Phang and agrees to accept BlackComb's draft for $117,000 due in six months. The acceptance foe would cost BiackComb $525, plus reduce Phang's available crodit line by $117,000. The bankers' acceptance note of $117,000 would be sold at a 2%4 per annum discount in the money market. What is the annualzed percentage all-in cost to BlackComb of this bankers' accoptance financing? (NOrE: Assume a 360 -day yoari) The difcount on the sale of acceptance is 5 (Round to the nearest cent.) BlackComb Sports (A). BlackComb Sports (BlackComb) is considering bidding to sell $117,000 of ski equipment to Phang Family Enterprises of Seoul, Korea. Payment would be due in six months, Since BlackComb cannot find good crodit information on Phang. BlackComb wants to protect its credit risk. It is considering the following financing solution. Phang's bank issues a letter of credit on behalf of Phang and agrees to accept BlackComb's draft for $117.000 due in six months. The acceptance fee would cost Blackcomb $525, plus reduce Phang's available credit line by $117,000. The bankers' acceptance note of $117,000 would be sold at a 2% per annum discount in the money market. What is the annualized percentage all-in cost to BlackComb of this bankers' acceptance financing? (NOTE: Assume a 360-day yeat.) The diecount on the sale of acceptance is $ (Round to the nearest cent.) BlackComb Sports (A). BlackComb Sports (BlackComb) is considering bidding to soll $117,000 of ski equipment to Phang Family Enterprises of Seoul, Korea. Payment would be due in six months, Since BlackComb cannot find good crodit information on Phang. BlackComb wants to protect its credit risk. It is considering the following financing solution. Phang's bank issues a letter of credit on behalf of Phang and agrees to accept BlackComb's draft for $117,000 due in six months. The acceptance fee would cost BlackComb $525, plus reduce Phang's available credit line by $117,000. The bankers' acceptance note of $117,000 would be sold at a 2% per annum discount in the money market. What is the annualized percentage all-in cost to BlackComb of this bankers' acceptance financing? (NOTE: Assume a 360-day yeat.) The ditcount on the sale of acceptance is 5 (Round to the nearest cent.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
