Question: Use the information below to answer the following question. Exchange Rate S 0 ( $ / ) $ 1 . 6 0 = 1 .

Use the information below to answer the following question.
Exchange Rate
S0($/) $ 1.60=1.00
F360($/) $ 1.58=1.00
Interest Rate APR
i$ 2%
i4%
If you borrowed 1,000,000 for one year, how much money would you owe at maturity?

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