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QCalculate the net exposure for each maturity (b) The French manufacturer has the following JPY commitments: Accounts receivable of JPY 1,000,000 for thirty days. Accounts

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QCalculate the net exposure for each maturity
(b) The French manufacturer has the following JPY commitments: Accounts receivable of JPY 1,000,000 for thirty days. Accounts receivable of JPY 500,000 for ninety days. Sales contract twelve months from now of JPY 30,000,000. A forward sale of JPY 500,000 ninety days from now. A deposit that at maturity, in three months, pays JPY 500,000. A loan for which the firm owes JPY 8,000,000 in six months. Accounts payable of JPY 1,000,000 for thirty days. A forward sale of JPY 10,000,000 twelve months from now. Accounts payable of JPY 3,000,000 for six months. Assume that the interest rate is 5 percent (simple, per annum) for all maturities and that this rate will remain 5 percent with certainty for the next twelve months. Also, ignore bid-ask spreads in the money market

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