Gulliver Travel Agencies thinks interest rates in Europe are low. The firm borrows euros at 9 percent
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Gulliver Travel Agencies thinks interest rates in Europe are low. The firm borrows euros at 9 percent for one year. During this time period the dollar falls 12 percent against the euro. What is the effective interest rate on the loan for one year?
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Related Book For 
Foundations Of Financial Management
ISBN: 9781264097623
18th Edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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