Question: Question 3. Plain ple plans to issue 7% US$-denominated bonds worth $20 million. The current spot rate is 1.65S$/ and Plain plc expects sterling to

$Question 3. Plain ple plans to issue 7% US\$-denominated bonds worth$

Question 3. Plain ple plans to issue 7% US\$-denominated bonds worth $20 million. The current spot rate is 1.65S$/ 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 1,000 ? ABCDE694,000754,000760,000823,000848,000

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