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Suppose a U.S. financial institution invests $10,000,000 in a pound denominated deposit that pays an annual interest rate of 7.25% at the beginning of the year when the exchange rate is 1.3555 £/$. At the end of the year, the financial institution withdrawals their money and converts it back to dollars. The exchange rate is 1.4055 £/$. How many pounds were originally deposited into the account? What is the value of the asset at the end of the year in dollars?
which of the following is not an item added back to income in the operations section of the statement of cash flows
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