CIMA P3 Chapter 11 Test
Technical Problems
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why should we divide different currencies $ and £,should we convert the $ to £ at the spot rate not given as this is not like for like?
Which question are you asing about?
can you explain 5th question, particularly how is 9/3 taken?
Interest option contracts last for only 3 months. So, if a loan is for 9 months and you therefore need to cover nine months of interest you need to have 9/3 times the number of contracts you might think.
Could you kindly explain it a bit further, as 9/3 is still confusing, 3 only seems mentioning remaining 3 months, but in study text we didn’t come across such a thing, 9/12 is used in books to specify the interest for 9months out of 12months.
Moreover in kaplan study text, kit and other materials they never used months calculations while finding number of contracts, why were they used here in the first place? Thanks