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9 ) Your company can get yen loans for 2 . 0 % . Dollar rates on the same loans are 4 . 5 %

9) Your company can get yen loans for 2.0%. Dollar rates on the same loans are 4.5%. The spot yen per dollar exchange rate is 104. The forward rates for years 1 thru 4 are, 101.51,99.08, 96.71, and 94.40, respectively. What is the dollar value of a 4-year 1 million yen loan?
A) $9,615.33
B) $10,422.46
C) $11,618.04
D) $13,527.89
Answer: A. Explain why

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