Suppose It Is May 1985 and the Current Value of the Greek

question 30

Multiple Choice

Suppose it is May 1985 and the current value of the Greek drachma is Dr 1 = $0.006369,but the expected spot rate 90 days hence is Dr 1 = $0.005980.What is the value of a sales order of Dr 50 million sold on 90-day terms?

• A)$318,450
• B)$562,491
• C)$299,000
• D)5,430

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