BUS 225 DAYONE LL
BUS 225 DAYONE LL
17th Edition
ISBN: 9781264116430
Author: BLOCK
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 7, Problem 3P

Orbital Communications has operating plants in over 100 countries. It also keeps funds for transactions purposes in many foreign countries. Assume in 2010 it held 150,000 kronas in Norway worth $40,000 . The funds drew 13 percent interest, and the krona increased 6 percent against the dollar.

What is the value of the holdings, based on U.S. dollars, at year-end?

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