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Assume that the UK interest rate is 11 per cent while the interest rate on euro is 7 per cent. If euros are borrowed by a UK firm, they would have to ____ against the pound by ____ in order to have the same effective financing rate from borrowing pounds.
Multiply
The mathematical operation of increasing a number by another specified number of times, essentially repeated addition.
Multiply
To perform a mathematical operation where a number is added to itself a certain number of times, represented by the symbol \(*\).
Simplify
The process of altering an expression to make it easier to read or work with, typically by combining like terms and using algebraic properties.
Perform Operations
The process of carrying out mathematical computations such as addition, subtraction, multiplication, and division.
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