Question: QUESTION 17 Plain plc plans to issue 7% US$-denominated bonds worth $20million. The current spot rate is 1.65 US$/ and Plain plc expects sterling to

QUESTION 17 Plain plc plans to issue 7% US$-denominated bonds worth

QUESTION 17 Plain plc plans to issue 7% US$-denominated bonds worth $20million. The current spot rate is 1.65 US$/ and Plain plc expects sterling to appreciate against the dollar by 3% per year. What is the sterling cost of the interest payable in the fourth year of issue, to the nearest 1000

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