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Business, 05.05.2020 11:43 isabelj2004

Morton Company obtains a one-year loan of 2,000,000 Japanese yen at an interest rate of 6 percent. At the time the loan is extended, the spot rate of the yen is $.005. If the spot rate of the yen at maturity of the loan is $.0035, what is the effective financing rate of borrowing yen?

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Morton Company obtains a one-year loan of 2,000,000 Japanese yen at an interest rate of 6 percent. A...

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