On March $13,2020,$ you convert $500,000$ 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 $9-1$ for this problem. $($LG $9-4)$

Bank USA recently purchased $$10$ million worth of euro$-$denominated one$-$year CDs that pay $10$ percent interest annually. The current spot rate of U$.$S$.$ dollars for euros is $$\frac{1\mathrm{.}104}{?}$ C $.($LG $9-5)$

a$.$ Is Bank USA exposed to an appreciation or depreciation of the dollar relative to the euro?

b$.$ What will be the return on the one$-$year CD if the dollar appreciates relative to the euro such that the spot rate of U$.$S$.$ dollars for euros at the end of the year is $$\frac{1\mathrm{.}004}{}1?$

c$.$ What will be the return on the one$-$year CD if the dollar depreciates relative to the euro such that the spot rate of U$.$S$.$ dollars for euros at the end of the year is $$\frac{1\mathrm{.}204}{i}n1?$