Question
GE borrowed Euro10 million last year for one year. The borrowing rate was 2% per annum. At maturity, when the loan was repaid, the firm
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GE borrowed Euro10 million last year for one year. The borrowing rate was 2% per annum. At maturity, when the loan was repaid, the firm calculated that the effective borrowing rate was -13.3%. This implies that:
the Euro must have appreciated by 17.3%
the Euro must have depreciated by 15%
the Euro must have appreciated by 14.81%
the Euro must have depreciated by 11.3%
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The House That Bogle Built How John Bogle And Vanguard Reinvented The Mutual Fund Industry
Authors: Lewis Braham
1st Edition
0071749063,0071751157
