In may 1995 when the exchange rate was 80 yen per dollar, japan life insurance company invested ¥800,000,000 (i. e., $10,000,000) in pure-discount u. s. bonds. the investment was liquidated one year later when the exchange rate was 110 yen per dollar. if the rate of return earned on this investment was 46% in termsof yen, calculate the dollar amount that the bonds were sold at.
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In may 1995 when the exchange rate was 80 yen per dollar, japan life insurance company invested ¥800...
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