{"id":1174,"date":"2023-11-25T18:34:08","date_gmt":"2023-11-25T10:34:08","guid":{"rendered":"https:\/\/edu.secda.info\/scu10156104\/?p=1174"},"modified":"2023-11-27T13:39:00","modified_gmt":"2023-11-27T05:39:00","slug":"hw6","status":"publish","type":"post","link":"https:\/\/edu.secda.info\/scu10156104\/?p=1174","title":{"rendered":"HW6"},"content":{"rendered":"<h2><span style=\"color: #6d92b5;\">1. EXERCISE<\/span><\/h2>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q20.png\"><img decoding=\"async\" class=\"alignnone size-full wp-image-1182\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q20.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q20.png 562w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q20-300x294.png 300w\" sizes=\"(max-width: 562px) 100vw, 562px\" \/><\/a><\/p>\n<h3><span style=\"color: #758a82;\">Ans.<\/span><\/h3>\n<p><strong>a.<\/strong> St-1 = $0.20, St = $0.19<\/p>\n<p>Percentage change in the Mexican peso = ($0.19 &#8211; 0.20$)\/$0.20 = -0.05 = <span style=\"color: #0000ff;\"><strong>-5%<\/strong><\/span><\/p>\n<p><strong>b.\u00a0<\/strong>Percentage change in the Mexican peso = 11% &#8211; 15% =<span style=\"color: #0000ff;\"> <strong>-4% \u2192DEPRECIATION<\/strong><\/span><\/p>\n<p><strong>c. <\/strong>Percentage change in the Mexican peso = <span style=\"color: #0000ff;\"><strong>0%<\/strong><\/span><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q24.png\"><img decoding=\"async\" class=\"alignnone wp-image-1181 size-medium\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q24-300x251.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q24-300x251.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q24.png 564w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<h3><span style=\"color: #758a82;\">Ans.<\/span><\/h3>\n<p><strong>a.\u00a0 <\/strong>S\u00a0= $1.10, id = 3%. if = 5%<\/p>\n<p>IFE : [E(S) &#8211; S]\/S = (id &#8211; if)\/(1+if)<\/p>\n<p>\u2192[E(S) &#8211; $1.10]\/$1.10 = (3% &#8211; 5%)\/(1+5%) = -0.0190<\/p>\n<p>E(S) = (-0.0190*$1.10) + $1.10 = <span style=\"color: #0000ff;\"><strong>$1.0791<\/strong><\/span><\/p>\n<p><strong>b. <\/strong>income = ($100,000\/1.1)*1.03*1 = $93,636.36<\/p>\n<p>Percentage return = ($93,636.36 &#8211; $100,000)\/$100,000 = -0.0636 = <span style=\"color: #0000ff;\"><strong>-6.36%<\/strong><\/span><\/p>\n<p><strong>c. <\/strong>income =\u00a0($100,000\/1.1)*1.03*1.08 = $101,127.27<\/p>\n<p>Percentage return = ($101,127.27 &#8211; $100,000)\/$100,000 = 0.0113 = <span style=\"color: #0000ff;\"><strong>1.13%<\/strong><\/span><\/p>\n<p><strong>d.<\/strong> Assume that the spot rate of the euro in one year is $x<\/p>\n<p>income = ($100,000\/1.1)*1.03*x = $93,636.36*x<\/p>\n<p>Percentage return = ($93,636.36*x &#8211; $100,000)<del>\/$100,000<\/del> &gt; 0<\/p>\n<p>x &gt; $100,000\/$93,636.36 \u2252 <span style=\"color: #0000ff;\"><strong>1.07<\/strong><\/span><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q25.png\"><img decoding=\"async\" class=\"alignnone wp-image-1180 size-medium\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q25-300x237.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q25-300x237.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q25.png 563w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<h3><span style=\"color: #758a82;\">Ans.<\/span><\/h3>\n<p><strong>a.<\/strong> Forward Premium\/Discount = ($1.10 &#8211; $1.13)\/$1.13 = -0.0265<\/p>\n<p>Interest Rate Differential = (4% &#8211; 6%)\/(1+6%) = <span style=\"color: #0000ff;\"><strong>-0.0189 \u2260 -0.0265 \u2192 doesn&#8217;t hold<\/strong><\/span><\/p>\n<p><strong>b.<\/strong> S = $1.13, E(id) = 2%, E(if) = 5%<\/p>\n<p>PPP : [E(S) &#8211; S]\/S = [E(id) &#8211; E(if)]\/[1+E(if)]<\/p>\n<p>[E(S)-$1.13]\/$1.13 = (0.02 &#8211; 0.05)\/1.05 = -0.0286<\/p>\n<p>E(S) = -0.0286*$1.13 + $1.13 = <span style=\"color: #0000ff;\"><strong>$1.10<\/strong><\/span><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q26.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-1179\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q26-300x210.png\" alt=\"\" width=\"900\" height=\"631\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q26-300x210.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q26.png 595w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<h3><span style=\"color: #758a82;\">Ans.<\/span><\/h3>\n<p>IRP exists \u2192 (F &#8211; S)\/S = (id &#8211; if)\/(1 + if)<\/p>\n<p><strong>a.<\/strong> Forward Rate Premium = (0.02 &#8211; 0.1)\/1.1 = <span style=\"color: #0000ff;\"><strong>-0.0727<\/strong><\/span><\/p>\n<p><strong>b.<\/strong> F: 1-year forward rate of peso<\/p>\n<p>(F &#8211; $0.14)\/$0.14 = -0.0727, F = -0.0727*$0.14 + $0.14 = <strong><span style=\"color: #0000ff;\">$0.1298<\/span><\/strong><\/p>\n<p><strong>c.<\/strong> IFE : [E(S) &#8211; S]\/S = (id &#8211; if)\/(1 + if)<\/p>\n<p>(id &#8211; if)\/(1 + if) = (0.02 &#8211; 0.1)\/(1 + 0.1) = -0.0727 = <span style=\"color: #0000ff;\"><strong>-7.27%<\/strong><\/span><\/p>\n<p><strong>d.<\/strong>\u00a0$0.14*[1 + (-0.0727)] = <span style=\"color: #0000ff;\"><strong>$0.1298<\/strong><\/span><\/p>\n<p><strong>e.<\/strong> \u56e0\u70ba\u5229\u7387\u5e73\u50f9\u7406\u8ad6\u6210\u7acb\u2192\u9060\u671f\u5229\u7387\u6ea2\u916c\u8207\u5373\u671f\u532f\u7387\u9810\u671f\u8b8a\u5316\u767e\u5206\u6bd4\u76f8\u540c<\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q39.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-1178\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q39-300x143.png\" alt=\"\" width=\"900\" height=\"429\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q39-300x143.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q39.png 594w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<h3><span style=\"color: #758a82;\">Ans. <\/span><\/h3>\n<p><span style=\"color: #000000;\">PPP exists : [E(S) &#8211; S]\/S = [E(Id) &#8211; E(If)]\/(1 + E(If))<\/span><\/p>\n<p>US : nominal interest rate = 6%, real interest rate = 2%<\/p>\n<p>CA : nominal inetrest rate = 5%, real interest rate = 3%, CAD spot rate = $.90<\/p>\n<p>Expected inflation in the US = 6% &#8211; 2%=4%<\/p>\n<p>Expected inflation in CA = 5% &#8211; 3% =2%<\/p>\n<p>Expected percentage change in CAD = [(1 + 0.04)]\/[(1 + 0.02)] &#8211; 1 = 0.0196 = 1.96%<\/p>\n<p>The spot rate of the CAD in one year = $0.90*(1 + 0.0196) = <span style=\"color: #0000ff;\"><strong>$0.9176<\/strong><\/span><br \/>\n<a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q44.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-1177\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q44-300x223.png\" alt=\"\" width=\"900\" height=\"668\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q44-300x223.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q44.png 586w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n<h3><span style=\"color: #758a82;\">Ans.<\/span><\/h3>\n<p>1,000,000F<\/p>\n<p>US : interest rate = 6%<\/p>\n<p>CH : interest rate = 13%, spot rate = $.80<\/p>\n<p><strong>a.<\/strong> spot rate in one year = $.80*1.13 = $.904<\/p>\n<p>The estimated amount of dollars = 1,000,000 * $0.904 = <span style=\"color: #0000ff;\"><strong>$904,000<\/strong><\/span><\/p>\n<p><strong>b.<\/strong> IRP hold\u2192(F &#8211; S)\/S = (id &#8211; if)\/(1 + if)<\/p>\n<p>(F &#8211; $0.8)\/$0.8 = (0.06 &#8211; 0.13)\/(1 +0.13) = -0.0619<\/p>\n<p>F = (-0.0619*$0.8) + $0.8 = <span style=\"color: #000000;\">$0.7505\u2192<\/span>1,000,000*$0.7505 = <span style=\"color: #0000ff;\"><strong>$750,500<\/strong><\/span><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q5.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1186\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q5-800x272.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q5-800x272.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q5-300x102.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q5-768x261.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q5.png 1378w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><span style=\"color: #758a82;\">Ans.<\/span><\/h3>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A5.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-1185\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A5-667x800.jpg\" alt=\"\" width=\"583\" height=\"700\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A5-667x800.jpg 667w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A5-250x300.jpg 250w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A5-768x922.jpg 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A5.jpg 1169w\" sizes=\"(max-width: 583px) 100vw, 583px\" \/><\/a> <a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q1.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1176\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q1-800x271.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q1-800x271.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q1-300x102.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q1-768x260.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q1.png 1057w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><span style=\"color: #758a82;\">Ans.<\/span><\/h3>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A1.jpg\"><img decoding=\"async\" class=\"alignnone wp-image-1218\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A1-647x800.jpg\" alt=\"\" height=\"700\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A1-647x800.jpg 647w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A1-243x300.jpg 243w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A1-768x949.jpg 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A1.jpg 1152w\" sizes=\"(max-width: 647px) 100vw, 647px\" \/><\/a>\u00a0<a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q10.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1175\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q10-800x217.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q10-800x217.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q10-300x81.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q10-768x209.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q10.png 1057w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><span style=\"color: #758a82;\">Ans.<\/span><\/h3>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A10.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-1191\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A10-749x800.jpg\" alt=\"\" width=\"656\" height=\"700\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A10-749x800.jpg 749w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A10-281x300.jpg 281w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A10-768x820.jpg 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A10.jpg 1239w\" sizes=\"(max-width: 656px) 100vw, 656px\" \/><\/a><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q16.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1184\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q16-800x209.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q16-800x209.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q16-300x78.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q16-768x200.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_Q16.png 1353w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><span style=\"color: #758a82;\">Ans.<\/span><\/h3>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A16.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-1183\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A16.jpg\" alt=\"\" width=\"640\" height=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A16.jpg 1080w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A16-213x300.jpg 213w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A16-569x800.jpg 569w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/HW6_A16-768x1079.jpg 768w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<h2><\/h2>\n<h2><span style=\"color: #6d92b5;\">2. \u570b\u969b\u91d1\u878d\u5e02\u5834\u7b46\u8a18<\/span><\/h2>\n<a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/IFM_HW6.pdf\" class=\"pdfemb-viewer\" style=\"width: 750px; \" data-width=\"750\" data-height=\"max\"  data-toolbar=\"both\" data-toolbar-fixed=\"off\">IFM_HW6<br\/><\/a>\n<h3><span style=\"color: #9b78b0;\">Foreign Exchange Market<\/span><\/h3>\n<p><strong><span style=\"color: #9b78b0;\">\u76f4\u63a5vs\u9593\u63a5\u5831\u50f9<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Dir-vs-Indir-Quotes.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1198\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Dir-vs-Indir-Quotes-800x382.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Dir-vs-Indir-Quotes-800x382.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Dir-vs-Indir-Quotes-300x143.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Dir-vs-Indir-Quotes-768x366.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Dir-vs-Indir-Quotes.png 1390w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><span style=\"color: #9b78b0;\">International Money Market(\u820a\u6559\u6750\u5728\u7b46\u8a18\u4e2d\uff0c\u4ee5\u4e0b\u70ba\u65b0\u6559\u6750)<\/span><\/h3>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1199\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency-800x463.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency-800x463.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency-300x174.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency-768x445.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency.png 1300w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency2.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1201\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency2-800x296.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency2-800x296.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency2-300x111.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency2-768x284.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency2.png 1293w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/h3>\n<p><span style=\"color: #a784bf;\"><strong>\u7de3\u8d77<\/strong><\/span><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency3.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1203\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency3-800x443.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency3-800x443.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency3-300x166.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency3-768x425.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency3.png 1267w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><\/h3>\n<p><strong><span style=\"color: #a784bf;\">\u9280\u884c\u7cfb\u7d71<\/span><\/strong><\/p>\n<ul>\n<li><span style=\"color: #000000;\">\u5916\u90e8\u9280\u884c\u7cfb\u7d71\uff1a\u8207\u767c\u884c\u570b\u5bb6\u570b\u5167\u9280\u884c\u7cfb\u7d71\u5e73\u884c\u904b\u884c<\/span><\/li>\n<li><span style=\"color: #000000;\">\u5169\u683c\u9280\u884c\u7cfb\u7d71\u90fd\u5f9e\u5b58\u5165\u7684\u8cc7\u91d1\u4e2d\u5c0b\u627e\u5b58\u6b3e\u4e26\u5411\u5ba2\u6236\u63d0\u4f9b\u8cb8\u6b3e<\/span><\/li>\n<li><span style=\"color: #000000;\">\u5883\u5916\u9280\u884c\u4e0d\u53d7\u6e96\u5099\u91d1\u8981\u6c42\u53ca\u5b58\u6b3e\u4fdd\u96aa\u7d04\u675f\u2192\u71df\u904b\u6210\u672c\u66f4\u4f4e\uff0c\u56e0\u6b64\u767c\u5c55\u8fc5\u901f<\/span><\/li>\n<\/ul>\n<p><strong><span style=\"color: #a784bf;\">\u5883\u5916\u8ca8\u5e63\u4ea4\u6613<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4-1.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1205\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4-1-800x483.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4-1-800x483.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4-1-300x181.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4-1-768x463.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4-1.png 1298w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p><span style=\"color: #a784bf;\"><strong>\u5883\u5916\u8ca8\u5e63\u91d1\u878d\u4e2d\u5fc3<\/strong><\/span><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1204\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4-800x473.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4-800x473.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4-300x177.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4-768x454.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency4.png 1347w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><span style=\"color: #a784bf;\">International Credit Market<\/span><\/h3>\n<p><strong><span style=\"color: #a784bf;\">\u6b50\u5143\u7684\u51fa\u73fe<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency7.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1206\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency7-800x357.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency7-800x357.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency7-300x134.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency7-768x343.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency7.png 1324w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p><strong><span style=\"color: #a784bf;\">\u9280\u884c\u8cb8\u6b3e &#8211; EURIBOR<\/span><\/strong><\/p>\n<p><strong><span style=\"color: #a784bf;\"><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency6.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1207\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency6-800x460.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency6-800x460.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency6-300x173.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency6-768x442.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency6.png 1265w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/span><\/strong><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency8.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1208\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency8-800x192.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency8-800x192.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency8-300x72.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency8-768x184.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/Eurocurrency8.png 1253w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #a784bf;\">International Bond Market<\/span><\/h3>\n<p><strong><span style=\"color: #a784bf;\">Example of Floating &#8211; Rate Notes<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/FRN.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1211\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/FRN-800x221.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/FRN-800x221.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/FRN-300x83.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/FRN-768x212.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/FRN.png 1192w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><span style=\"color: #a784bf;\">Type of Bonds<\/span><\/h3>\n<p><a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/TypeOfBonds.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1212\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/TypeOfBonds-800x381.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/TypeOfBonds-800x381.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/TypeOfBonds-300x143.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/TypeOfBonds-768x365.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/TypeOfBonds.png 1343w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><span style=\"color: #a784bf;\">\u570b\u969b\u50b5\u5238\u5e02\u5834\u4fe1\u7528\u8a55\u7d1a<\/span><\/h3>\n<p><a href=\"https:\/\/www.funddiscover.com\/2019\/02\/12\/\u50b5\u5238\u7684\u4fe1\u7528\u8a55\u7b49\u8a72\u600e\u9ebc\u770b\uff1f\/\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1213\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRatingTable-800x659.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRatingTable-800x659.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRatingTable-300x247.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRatingTable-768x632.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRatingTable.png 1024w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a> <a href=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRating.png\"><img decoding=\"async\" class=\"alignnone size-large wp-image-1214\" src=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRating-800x509.png\" alt=\"\" width=\"900\" srcset=\"https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRating-800x509.png 800w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRating-300x191.png 300w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRating-768x488.png 768w, https:\/\/edu.secda.info\/scu10156104\/wp-content\/uploads\/2023\/11\/CreditRating.png 1186w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p><strong><span style=\"color: #ff6600;\">\u203b\u5f71\u7247\u932f\u8aa4\uff1a<\/span><\/strong><\/p>\n<p><span style=\"color: #ff6600;\">\u570b\u969b\u91d1\u878d\u5e02\u5834\u8ab2\u7a0b\u5f71\u7247\u4e2d\uff0c<strong>57:20-1:03:30<\/strong>\u8996\u7a97\u5206\u4eab\u932f\u8aa4<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>1. EXERCISE Ans. a. St-1 = $0.20, St = $<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/edu.secda.info\/scu10156104\/index.php?rest_route=\/wp\/v2\/posts\/1174"}],"collection":[{"href":"https:\/\/edu.secda.info\/scu10156104\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edu.secda.info\/scu10156104\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edu.secda.info\/scu10156104\/index.php?rest_route=\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/edu.secda.info\/scu10156104\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1174"}],"version-history":[{"count":17,"href":"https:\/\/edu.secda.info\/scu10156104\/index.php?rest_route=\/wp\/v2\/posts\/1174\/revisions"}],"predecessor-version":[{"id":1228,"href":"https:\/\/edu.secda.info\/scu10156104\/index.php?rest_route=\/wp\/v2\/posts\/1174\/revisions\/1228"}],"wp:attachment":[{"href":"https:\/\/edu.secda.info\/scu10156104\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edu.secda.info\/scu10156104\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edu.secda.info\/scu10156104\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}