On July 31, 2013, you convert 500,000 U S dollars to Japanese yen in the spot foreign exchange market and purchase a six month forward contract to convert yen into dollars How much will you receive in U S dollars at the end of six months ...

At the beginning of the month you convert 500000 to yen at a rate of ...

On July 31, 2013, you convert 500,000 U.S. dollars to Japanese yen in the spot foreign exchange

Question:

On July 31, 2013, you convert 500,000 U.S. dollars to Japanese yen in the spot and purchase a six-month forward contract to convert yen into dollars. How much will you receive in U.S. dollars at the end of six months?

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...