Question: Problem 7 Intro Apple sells iPhone in many countries, including India. The company expects to receive 251,000,000 Indian rupees (INR) from its exports in one

Problem 7 Intro Apple sells iPhone in many countries, including India.

Problem 7 Intro Apple sells iPhone in many countries, including India. The company expects to receive 251,000,000 Indian rupees (INR) from its exports in one year. The spot rate is $0.0157 per rupee and the one-year forward rate is $0.0158 per rupee. The U.S. interest rate is 3% and the Indian interest rate is 10%. Part 1 | Attempt 1/10 for 10 pts. What is the value of the receivables in one year with a money market hedge (in $)? +decimals Submit

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