Solve the Equation. - = 15 (Round to the Nearest Thousandth.)

question 194

Multiple Choice

Solve the equation.
- = 15 (Round to the nearest thousandth.)

• A) 2.683
• B) 0.683
• C) 1.683
• D) 3.358

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Definitions:

Spot Rate

The existing rate at which a certain currency is available for immediate purchase or sale.

Forward Contract

A financial derivative instrument between two parties to buy or sell an asset at a specified future time at a price agreed upon today.

Settlement Date

The date on which a trade is finalized and the buyer must make payment and the seller deliver the asset.

Forward Rate

Refers to the agreed exchange rate for a currency transaction that will occur at a future date.