Question: Poppins, Inc, a U . S . - based MNC , obtains a 1 - year loan of 1 5 , 5 0 0 ,

Poppins, Inc, a U.S.-based MNC, obtains a 1-year loan of 15,500,000 Malaysian ringgit at a nominal interest rate of 9 percent. At the time the loan is extended, the spot rate of the ringgit is $.24. If the spot rate of the ringgit in one year is $.21:
(1) What is the dollar amount initially obtained from the loan.
(2) What is the dollar amount needed to repay the loan.
(3) Did the ringgit appreciate or depreciate against the dollar during the year?

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