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Business, 20.12.2021 14:00 NNopeNNopeNNope

A trader wants to buy goods worth £1m and draws up a Bill of Exchange, promising to pay this amount in three months’ time. The bill is immediately sold on (by the seller of the goods) to a discount house, which pays out £975,000. a) How big is the discount in monetary terms?
b) How much profit will the discount house make if it holds the bill to maturity?
c) What is the EAR earned?

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A trader wants to buy goods worth £1m and draws up a Bill of Exchange, promising to pay this amount...
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