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The Turkish one-year interest rate is 27 per cent, while the UK one-year interest rate is 9 per cent. If a UK firm creates a one-year deposit in Turkey, the turkish lira would have to ____ against the pound by ____ in order to make that investment have an effective yield that is at least as great as in the UK.
Distributive Property
A property indicating that multiplying a sum by a number gives the same result as multiplying each addend by the number and then adding the products.
Principal Investment
The initial amount of money invested, before any earnings or interest.
Simple Interest
A method of calculating the interest charge on a loan or financial investment based on the initial principal and a fixed interest rate over time.
Interest Rate
The proportion, typically expressed as a percentage, at which interest is charged on a loan or paid on savings.
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