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1. A 30-day forward contract for $1,000,000, at a forward exchange rate of DEM 2 = USD 1, was signed 30 days ago. The current

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1. A 30-day forward contract for $1,000,000, at a forward exchange rate of DEM 2 = USD 1, was signed 30 days ago. The current spot rate is DEM 1.9 = USD 1. Calculate the implicit interest rate and net earnings for this forward transaction

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