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1. You entered into a long pound forward position for £1,000 at $1.65 = £1 six months ago. Today, at the maturity of the contract, the spot rate is $1.55 = £1, what is your gain or loss from the position?

a. $120 loss b. $100 gain c. $90 gain d. $120 gain e. $100 loss

2. A bond matures in 30 years, pays annual interest, has a 20 year duration and a yield to maturity of 9.32%. The change in the level of the market interest rate is 0.47%. The modified duration is:

A) 9.4 years. B) 14.1 years. C) 18.29 years. D) 27.44 years.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92644624

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