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On July 15, 2016, you convert 560,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month. forward contract to

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On July 15, 2016, you convert 560,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month. forward contract to convert yen into dollars. How much will you receive in U.S. dollars at the end of six months? Use the data in:Table: 6 -ifor this problem. (Round your answer to 2 decimal places. (e.9, 32.16) ) TABLE 9-1 Foreign Currency Exchange Rates \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Fxchange Rates: New York Closing Snapshot } \\ \hline \multicolumn{5}{|l|}{ Friday, July 15,2016} \\ \hline \multicolumn{3}{|c|}{ U.S.-dollar foreign-exchange rates in late New York trading } & \\ \hline \multirow[b]{2}{*}{ Country/currency } & \multicolumn{2}{|c|}{ IN US\$ } & \multicolumn{2}{|c|}{ PER US\$ } \\ \hline & Fri & Thurs & Fri & Thurs \\ \hline \multicolumn{5}{|l|}{ Americas } \\ \hline Argentina peso & 0.0669 & 0.0679 & 14.9390 & 14.7260 \\ \hline Brazil real & 0.3050 & 0.3074 & 3.2784 & 3.2533 \\ \hline Canada dollar & 0.7709 & 0.7758 & 1.2972 & 1.2891 \\ \hline 1-month forward & 0.7709 & 0.7758 & 1.2971 & 1.2890 \\ \hline 3-months forward & 0.7710 & 0.7759 & 1.2970 & 1.2889 \\ \hline 6-months forward & 0.7711 & 0.7760 & 1.2968 & 1.2887 \\ \hline Chile peso & 0.001526 & 0.001538 & 655.10 & 650.40 \\ \hline Colombia peso & 0.0003422 & 0.0003429 & 2922.25 & 2916.55 \\ \hline Ecuador US dollar & F=1 & 1 & 1 & 1 \\ \hline Mexico peso & 0.0537 & 0.0545 & 18.6066 & 18.3528 \\ \hline Peru new sol & 0.3050 & 0.3049 & 3.2785 & 3.2795 \\ \hline Uruguay peso & 0.03294 & 0.03299 & 30.3600 & 30.3100 \\ \hline Venezuela bolivar & 0.1000996 & 0.10014972 & 9.9901 & 9.9851 \\ \hline \multicolumn{5}{|l|}{ Asia-Pacific } \\ \hline Australian dollar & 0.7575 & 0.7632 & 1.3201 & 1.3103 \\ \hline China yuan & 0.1494 & 0.1497 & 6.6924 & 6.6818 \\ \hline Hong Kong dollar & 0.1290 & 0.1290 & 7.7546 & 7.7543 \\ \hline India rupee & 0.01489 & 0.01496 & 67.14050 & 66.84320 \\ \hline Indonesia rupiah & 0.0000763 & 0.0000767 & 13110 & 13037 \\ \hline Japan yen & 0.00953 & 0.00949 & 104.91 & 10535 \\ \hline 1-month forward & 0.0095320 & 0.0094918 & 104.90991 & 10535397 \\ \hline 3-months forward & 0.0095320 & 0.00949235 & 104.90980 & 105.34796 \\ \hline 6-months forward & 0.0095320 & 0.00949237 & 104.90961 & 105.34777 \\ \hline Kazalchstan tenge & 0.00295 & 0.00295 & 339.27 & 339.33 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline Macau pataca & 0.1251643 & 0.1253039 & 7.990 & 7.981 \\ \hline Malaysia ringgit & 0.2522 & 0.2542 & 3.9657 & 3.9335 \\ \hline New Zealand dollar & 0.7118 & 0.7199 & 1.4049 & 1.3891 \\ \hline Pakistan rupee . & 0.00955 & 0.00954 & 104.72 & 104.80 \\ \hline Philippines peso & 0.0214 & 0.0213 & 46.7930 & 46.8900 \\ \hline Singapore dollar & 0.7420 & 0.7450 & 1.3477 & 1.3423 \\ \hline South Korea won & 0.0008784 & 0.0008831 & 1138.47 & 1132.42 \\ \hline Sri Lanka rupee & 0.0068757 & 0.0068644 & 145.44 & 145.68 \\ \hline Taiwan dollar & 0.03130 & 0.03125 & 31.95 & 32.00 \\ \hline Thailand baht & 0.02860 & 0.02855 & 34.970 & 35.030 \\ \hline Vietnam dong & 0.00004482 & 0.00004488 & 22310 & 22282 \\ \hline \multicolumn{5}{|l|}{ Europe } \\ \hline Bulgaria lev & 0.56367 & 0.56844 & 1.774 & 1.759 \\ \hline Croatia kuna & 0.1471 & 0.1484 & 6.7973 & 6.7387 \\ \hline Crech Rep. koruna & 0.04084 & 0.04114 & 24.489 & 24.309 \\ \hline Denmark krone & 0.1483 & 0.1495 & 6.7422 & 6.6888 \\ \hline Euro area euro & 1.1037 & 1.1121 & 0.9061 & 0.8992 \\ \hline 1-month forward & 1.1052 & 1.1135 & 0.9048 & 0.8980 \\ \hline 3-months forward & 1.1079 & 1.1163 & 0.9026 & 0.8958 \\ \hline 6-months forward & 1.1123 & 1.1207 & 0.8990 & 0.8923 \\ \hline Hungary forint & 0.00349993 & 0.00353782 & 285.72 & 282.66 \\ \hline Iceland krona & 0.008237 & 0.008219 & 121.41 & 121.67 \\ \hline Norway krone & 0.1179 & 0.1196 & 8.4836 & 8.3631 \\ \hline Poland zloty & 0.2492 & 0.2522 & 4.0126 & 3.9645 \\ \hline Romanialeu & 0.2463 & 0.2479 & 4.0603 & 4.0339 \\ \hline Russia ruble & 0.01570 & 0.01590 & 63.706 & 62.904 \\ \hline Sweden krona & 0.1164 & 0.1177 & 8.5882 & 8.4973 \\ \hline Switzerland franc & 1.0175 & 1.0195 & 0.9828 & 0.9809 \\ \hline 1-month forward & 1.0193 & 1.0213 & 0.9810 & 0.9791 \\ \hline 3-months forward & 1.0229 & 1.0249 & 0.9776 & 0.9757 \\ \hline 6-months forward & 1.0286 & 1.0306 & 0.9722 & 0.9703 \\ \hline Turkey lira & 0.3311 & 0.3474 & 3.0198 & 2.8783 \\ \hline \end{tabular} Source: The Wall Street Journal Online, July 18, 2016, www wsj.com

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