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In May 2015 when the exchange rate was 80 yen per dollar, Japan Life Insurance Company invested 800,000,000 (i.e., $10,000,000 in zero coupon U.S. bonds.
In May 2015 when the exchange rate was 80 yen per dollar, Japan Life Insurance Company invested 800,000,000 (i.e., $10,000,000 in zero coupon U.S. bonds. The investment was liquidated one year later when the exchange rate was 110 yen per dollar. If the rate of return earned on this investment was 46% in terms of yen, calculate the dollar amount that the bonds were sold at. Choose the closest answer. a. none of the options b.$10,720,000 c. $14,600,000 d. $10,618,000
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