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Funds for transactions-what is the value of holdings

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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 220,000 kronas in Norway worth $47,000. The funds drew 14 percent interest, and the krona increased 5 percent against the dollar.

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

Reference no: EM131287277

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