How will olympic receive in canadian dollars at end month

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Problem: On March 19, 2013, Olympic Bank converts $500,000 into U.S. dollars in the spot FX market and purchases a one-month forward contract to convert U.S. dollars into Canadian dollars. If the forward rate is US$0.9767 per Canadian dollar, how much will Olympic receive in Canadian dollars at the end of the month?

Reference no: EM133616931

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