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What rate of return did Japan Life realize

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Question - Japan Life Insurance Company invested $7,000,000 in pure-discount U.S. bonds in May 20X0 when the exchange rate was 111 yen per dollar. The company liquidated the investment one year later for $7,500,000. The exchange rate turned out to be 108 yen per dollar at the time of liquidation. What rate of return did Japan Life realize on this investment in yen terms?

Reference no: EM133005300

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