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The Zenith Investment Group, a private equity firm based in New York, borrows GBP 1,000,000 for one year at 6% p.a. What is the dollar

The Zenith Investment Group, a private equity firm based in New York, borrows GBP 1,000,000 for one year at 6% p.a. What is the dollar cost of this loan if the pound appreciates from USD1.31/GBP to USD1.37/GBP over the year?

11.31%

10.85%

10.04%

8.76%

9.24%

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