International Financial Management .
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Can someone with knowledge in International Financial management help with the following problem:
Bullock Corporation invests 1,500,000 South African rand at a nominal interest rate of 10%. At the time the investment is made, the spot rate of the rand is $.205. If the spot rate of the rand at maturity of the investment is $.203, what is the effective yield of investing in rand?
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The solution examines international financial management. The effective yield of investing in rand is given.
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I am assuming the holding period as one WEEK. Thus interest to be paid is ...
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