Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Postal Express has outlets throughout the world. It also keeps funds for transactions purposes in many foreign countries. Assume in 2010 it held 260,000 reals
Postal Express has outlets throughout the world. It also keeps funds for transactions purposes in many foreign countries. Assume in 2010 it held 260,000 reals in Brazil worth 190,000 dollars. It drew 14 percent interest, but the Brazilian real declined 28 percent against the dollar. a. What is the value of its holdings, based on U.S. dollars, at year-end? (Do not round intermediate calculations.) Value of the holdings b. What is the value of its holdings, based on U.S. dollars, at year-end if instead it drew 11 percent interest and the real went up by 15 percent against the dollar? (Do not round intermediate calculations.) Value of the holdings
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started