14. (Return calculation) On 1 January 2010, an American investor bought $1,000,000 worth of Swiss francs (SFr)

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14. (Return calculation) On 1 January 2010, an American investor bought

$1,000,000 worth of Swiss francs (SFr) and put it in a savings account for 1 year. The annual interest rate in Swiss francs was 6%. During that period, the interest rate in the United States was 2%. On the purchase date, the exchange rate was $1 = 1.56 SFr.

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Principles Of Finance With Excel

ISBN: 9780190296384

3rd Edition

Authors: Simon Benninga, Tal Mofkadi

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