Question: all I need to know is if the answer is right Delaney Inc. needs 1,180,000 in 30 days. Delaney can earn0.03 annualized on a German

all I need to know is if the answer is right

Delaney Inc. needs 1,180,000 in 30 days. Delaney can earn0.03 annualized on a German security. The current spot rate for the euro is $1.00. Delaney can borrow funds in the U.S. at an annualized interest rate of .06. IfDelaney uses a money market hedge, how much should it borrow in the U.S.? answer = 1,177,057

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