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2. Japan Life Insurance Company invested $10,000,000 in pure-discount U.S bonds in May 2012 the exchange rate was 80 yen per dollar. The company liquidated

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2. Japan Life Insurance Company invested $10,000,000 in pure-discount U.S bonds in May 2012 the exchange rate was 80 yen per dollar. The company liquidated the investment on May 2013 for $10,650,000. The exchange rate appreciated to be 110 yen per dollar during the time of liquidation. Compute the rate of return for Japan Life realizes on the investment in yen terms. (10 marks)

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