Clayton Moore's Money Fund. Clayton Moore is the manager of an international money market fund managed out of London. Unlike many money funds that guarantee their investors a

near risk$-$free investment with variable interest earnings, Clayton Moore's fund is a very aggressive fund that searches out relatively high interest earnings around the globe, but at some risk. The

fund is pound$-$denominated. Clayton is currently evaluating a rather interesting opportunity in Malaysia. Since the Asian Crisis of $1997,$ the Malaysian government enforced a number of currency and

capital restrictions to protect and preserve the value of the Malaysian ringgit. The ringgit was fixed to the U$.$S$.$ dollar at RM$3\mathrm{.}80=$$$1\mathrm{.}00$ for seven years. In $2005,$ the Malaysian government allowed

the currency to float against several major currencies. The current spot rate today is RM$3\mathrm{.}13483=$$$1\mathrm{.}00.$ Local currency time deposits of $180-$day maturities are earning $8\mathrm{.}903\%$ per annum. The

London eurocurrency market for pounds is yielding $4\mathrm{.}198\%$ per annum on similar $180-$day maturities. The current spot rate on the British pound is $$1\mathrm{.}5823=1\mathrm{.}00,$ and the $180-$day forward rate is

$$1\mathrm{.}5564=1\mathrm{.}00.$ The initial investment is $1,100,000\mathrm{.}00.$

The investment proceeds from the initial investment is $1,100,000\mathrm{.}00|($Round to two decimal places.$)$