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What is the value of the holdings

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Problem - 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 300,000 kronas in Norway worth $55,000. The funds drew 10 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: EM132895885

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