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how do we get the 8.97% as shown below... The annual cost of financing with S$ is determined as the discount rate that equates the

how do we get the 8.97% as shown below...

The annual cost of financing with S$ is determined as the discount rate that equates the U.S.

dollar payments resulting from payments on the Singapore dollar-denominated bond to the

amount of U.S. dollars borrowed.

Using a calculator, this discount rate is 8.97%

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