(Answered) The treasurer of a us company has 1000000 to invest for 30

Management Studies

The treasurer of a U.S company has $1,000,000 to invest for 30 days. A 30-day euro deposit yields 2.00 percent. The present exchange rate of€ is $1.1550. If the treasurer deposits the amount in a euro account after buying euro in the spot market and sells the proceeds three month later at $1.1530, what is the annualized rate of return on this transaction?

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