International cash management $($LO$2)$ Orbital Communications has operating plants in

over $100$ countries. It also keeps funds for transactions purposes in many foreign

countries. Assume in $2010$ it held $150,000$ kronas in Norway worth $$40,000.$ The funds

drew $13$ percent interest, and the krona increased $6$ percent against the dollar.

What is the value of the holdings, based on U$.$S$.$ dollars, at year$-$end $($Hint:

multiply $$40,000$ times $1\mathrm{.}13$ and then multiply the resulting value by $106$

percent.$)$