JAPAN LIFE INSURANCE COMPANY INVESTED $10,000,999 IN PURE-DISCOUNT U.S. BONDS IN MAY 1995 WHEN THE EXCHANGE RATE
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JAPAN LIFE INSURANCE COMPANY INVESTED $10,000,999 IN PURE-DISCOUNT U.S. BONDS IN MAY 1995 WHEN THE EXCHANGE RATE WAS 80 YEN PER DOLLAR. THE COMPANY LIQUIDATED THE INVESTMENT ONE YEAR LATER FOR $10,650,000. THE EXCHANGE RATE TURNED OUT TO BE 110 YEN PER DOLLAR AT THE TIME OF LIQUIDATION. WHAT RATE OF RETURN DID JAPAN LIFE REALIZE ON THIS INVESTMENT IN YEN TERMS?
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