The company Sorbona, S.A. presents the following bill of exchange for trade discounting: a first bill of exchange of €30,000 nominal amount that matures within 30 days; a second bill of exchange of €45,000 nominal amount that matures within 60 days; a third bill of exchange of €15,000 nominal amount that matures within 90 days; and a last bill of exchange of €50,000 nominal amount that matures within 120 days. If the conditions to be applied to discount this bill of exchange are: discount rate 1.75%, commission of 0.2% with a minimum of 90 euros and 5 euros per bill of exchange as postage costs, what is the total discount?

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ANSWER To calculate the total discount for the bill of exchange we need to first calculate the indiv... View the full answer