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A Canadian supplier is offering two options to his American client to pay for an equipment: paying 1 3 , 0 0 0 Canadian dollars

A Canadian supplier is offering two options to his American client to pay for an equipment: paying

13, 000

Canadian dollars now or paying

10, 000

US dollars in

6

months. If the annual interest rate for the Canadian dollar is

5 %

and for the US dollar is

8 %,

what is the "implied" exchange rate?

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