Question
Japan Life Insurance Company invested $7,000,000 in pure-discount U.S. bonds in May 20X0 when the exchange rate was 111 yen per dollar. The company liquidated
Japan Life Insurance Company invested $7,000,000 in pure-discount U.S. bonds in May 20X0 when the exchange rate was 111 yen per dollar. The company liquidated the investment one year later for $7,500,000. The exchange rate turned out to be 108 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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Local Public Finance And Public Policy Volume 3 1987
Authors: John M. Quigley
1st Edition
0892326484, 9780892326488
