1. Ambrin Corp. expects to receive $1,800 at the end of each year for 10 years. Then the corporation expects to receive $3,600 per year for the following 10 years, at the end of each year. What is the approximate present value of this 20-year cash flow? Use an 7% discount rate.

In 2019 a US investor purchases Australian dollars at an exchange rate of $1 = 1.40 Australian dollars. In 2020 the exchange rate is $1 = 1.30 Australian dollars. If his investment was $10,000. How much did he win?