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An Israeli company is buying medical equipment from a US company. Each medicine they are buying is 600 USD and the company is buying 500
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An Israeli company is buying medical equipment from a US company. Each medicine they are buying is 600 USD and the company is buying 500 boxes of these medicines. The Israeli company goes to an Israeli bank for a forward contract and fixes the exchange rate at 3 ISL = 1 USD and the Israeli bank charges the company 0.02 Shekel for every USD to be converted. How much did the Israeli company pay the bank for the contract?
300,000 ISL
125000 ISL
3000 ISL
6000 ISL
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