In Pure-Discount U

question 9

Multiple Choice

in pure-discount U.S.bonds.The investment was liquidated one year later when the exchange rate was 110 yen per dollar.If the rate of return earned on this investment was 46% in terms of yen,calculate the dollar amount that the bonds were sold at.

• A)$10,618,000
• B)$10,720,000
• C)$14,600,000
• D)None of these

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