Question: Question 2 The time from acceptance to maturity on a $107,000 banker's acceptance is 120 days. The importer's bank's acceptance commission is 2 percent and

Question 2

The time from acceptance to maturity on a $107,000 banker's acceptance is 120 days. The importer's bank's acceptance commission is 2 percent and the market rate for 120-day B/As is 5.66 percent. What amount will the exporter receive if he holds the B/A until maturity? (USD, no cents)

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