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QN: On September 13, Colin (HK) is due to receive from a UK customer for £10m in five months time.
HK$/£
Spot 13.4550-13.4685Interest rates
HK deposit:1.50% Borrow:2.35%
UK deposit:1.75% Borrow:2.70%Answer states to borrow £9.9970m how do they even get there?
I kept getting £9,888,752
X * (1+ (0.027 * 5/12 )) =£10m
X= £9,888,752
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