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 150,000 kronas in Norway worth $40,000. The funds drew 13 percent interest, and the krona increased 6 percent against the dollar.
What is the value of the holdings, based on U.S. dollars, at year-end (Hint: multiply $40,000 times 1.13 and then multiply the resulting value by 106 percent.)
Solution:
Orbital Communications
$xx, xxx×x.xx=$xx, xxx
=$xx,xxx×xxx%
=$xxx,xxx
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