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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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