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2.27 pts Question 7 Tropikana Inc, a U.S firm, has just borrowed euro 1,000,000 to make improvements to an Italian fruit plantation and processing plant.
2.27 pts Question 7 Tropikana Inc, a U.S firm, has just borrowed euro 1,000,000 to make improvements to an Italian fruit plantation and processing plant. I the interest rate is 5.50% per year and the Euro depreciates against the dollar from $1.40/ at the time the loan was made to $1.35/ at the end of the first year, how much interest and principle will Tropikana pay at the end of the first year if they repay the entire loan plus interest (rounded)? $1.477.000 51.055.000 61424250 $1.424250
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