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Assume that you buy a 1-year, 220,000-peso Philippine bond that pays 9 percent when the exchange rate is 1 Canadian dollar for 44 pesos. If,

Assume that you buy a 1-year, 220,000-peso Philippine bond that pays 9 percent when the exchange rate is 1 Canadian dollar for 44 pesos. If, after one year, the peso falls to 1 Canadian dollar equals 48 pesos, how much have you gained or lostin Canadian dollars?

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