Postal Express has outlets throughout the world. It also keeps funds for transactions purposes in...
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Finance
Postal Express has outlets throughout the world. It also keeps funds for transactions purposes in many foreign countries. Assume in 2010 it held 290,000 reals in Brazil worth 220,000 dollars. It drew 10 percent interest, but the Brazilian real declined 20 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.) b. What is the value of its holdings, based on U.S. dollars, at year-end if instead it drew 7 percent interest and the real went up by 11 percent against the dollar? (Do not round intermediate calculations.)
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