SOLUTION: how many dollars do you have to spend to acquire the amount of yen required? The availability is 100,000 yen. I took 100,000 x 1-month forward at .009048 & came up with $948.00

Question 304733: how many dollars do you have to spend to acquire the amount of yen required? The availability is 100,000 yen.
I took 100,000 x 1-month forward at .009048 & came up with $948.00 - is this correct??
Your assistance is greatly appreciated!!
Thx,
Monica
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
how many dollars do you have to spend to acquire the amount of yen required? The availability is 100,000 yen.
I took 100,000 x 1-month forward at .009048 & came up with $948.00 - is this correct??
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It's not clear what you mean, but 100,000 * 0.009048 = $904.80
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