On July 4, 2012, you convert $500,000 U.S. dollars to Japanese yen in the spot foreign exchange

Question:

On July 4, 2012, you convert $500,000 U.S. dollars to Japanese yen in the spot and purchase a one-month forward contract to convert yen into dollars. How much will you receive in U.S. dollars at the end of the month? Use the data in Table 13-1 for this problem.
Foreign Exchange Market
The foreign exchange market (also known as forex, FX or the currency market) is an over-the-counter (OTC) global marketplace that determines the exchange rate for currencies around the world. Participants are able to buy, sell, exchange and...