4 The spot rate of the Australian dollar is 0.40. The one-year forward rate of the Australian...
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4 The spot rate of the Australian dollar is £0.40. The one-year forward rate of the Australian dollar is
£0.38. The Australian one-year interest rate is 9%.
Assume that the forward rate is used to forecast the future spot rate. Determine the expected effective financing rate for a UK firm that borrows Australian dollars to finance its UK business.
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