Question: Assignment 8, Question 9: If Like A Lot Corp. borrows yen at a nominal annual interest rate of 2.01% and during the year the yen

Assignment 8, Question 9:

If Like A Lot Corp. borrows yen at a nominal annual interest rate of 2.01% and during the year the yen appreciates by 11.17%, what will the effective annual interest rate be for the loan? (round to 2 decimal places)

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