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Required: fapan Life insurance Company invested $10,000,000 in pure-discount U.S. bonds in May 1995 when the exchange rate was 80 yen per dollar. The company
Required: fapan Life insurance Company invested $10,000,000 in pure-discount U.S. bonds in May 1995 when the exchange rate was 80 yen per dollar. The company liquidated the Investment one year later for $10,700,000. The exchange rate furned out to be 110 yen per dollar at the time of liquidation. What rate of return did Japan Life realize on this investment in yen terms? Note: Do not round intermediate calculations. Enter your onswer as a percent rounded to 2 decimal places
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