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Assume the following information: U.S investors have $2,000,000 to invest l-year deposit rate offered on U.S. dollars = 12% I-year deposit rate offered on Singapore

Assume the following information:

U.S investors have $2,000,000 to invest

l-year deposit rate offered on U.S. dollars = 12% I-year deposit rate offered on Singapore dollars = 10%

I-year forward rate in Singapore dollars =$0.412

Spot rate of Singapore dollar =$0.400

What is the expected yield from this investment?

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