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Use the information below to answer the following question. Exchange Rate Interest Rate APR S 0 ($/) $ 1.45 = 1.00 i $ 4 %
Use the information below to answer the following question.
| Exchange Rate | Interest Rate | APR | ||||||||||||
| S0($/) | $ | 1.45 | = | 1.00 | i$ | 4 | % | |||||||
| F360($/) | $ | 1.48 | = | 1.00 | i | 3 | % | |||||||
If you borrowed 1,000,000 for one year, how much money would you owe at maturity?
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