Answer:
b. $96,914
Explanation:
360-day borrowing rate = 5%
spot rate = 0.48
360-day deposit rate = 6%
Borrow at the rate of 5% to get
SF200,000/1.05 = $190,476.19
Convert at the spot rate of $0.48 to get
190,476.19*0.48 = $91,428.57
Invest at the interest rate of 6% to get
91,428.57/1.06 = 96,914.28
Therefore, Parker Company will receive $96,914 in 360 days.
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