A Canadian borrower borrows $100,000 from an American bank. The interest rate is 8%, and the U.S.
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- A Canadian borrower borrows $100,000 from an American bank. The interest rate is 8%, and the U.S. dollar depreciates 4% over the same time period. Assuming an initial exchange rate of $.80/C$, what is the Canadian borrower’s Denominated percent cost of borrowing?
Related Book For
Numerical Methods for Engineers
ISBN: 978-9352602131
7th edition
Authors: Steven C. Chapra, Raymond P. Canale
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