Page 29 - Demo

%u062c%u0645%u064a%u0639 %u0627%u0644%u062d%u0642%u0648%u0642 %u0645%u062d%u0641%u0648%u0638%u0629 %u0640 %u0627%u0625%u0644%u0639%u062a%u062f%u0627%u0621 %u0639%u0649%u0644 %u062d%u0642 %u0627%u0645%u0644%u0624%u0644%u0641 29 %u0628%u0627%u0644%u0646%u0633%u062e %u0623%u0648 %u0627%u0644%u0637%u0628%u0627%u0639%u0629 %u064a%u0639%u0631%u0636 %u0641%u0627%u0639%u0644%u0647 %u0644%u0644%u0645%u0633%u0627%u0626%u0644%u0629 %u0627%u0644%u0642%u0627%u0646%u0648%u0646%u064a%u0629%ud835%udc8f%ud835%udc8fExample 2:A 5% EGP/dollar dual currency bond pays $5405 after six years (the maturity date), per EGP100,000 of face value. If this bond sells for EGP 98,000, and the discount rate is 4.5%, What is the implied EGP/$ exchange rate at maturity?Solution:( ) $ %ud835%udfcf%ud835%udfcf %u2212 %ud835%udfcf%ud835%udfcf(%ud835%udfcf%ud835%udfcf + %ud835%udc93%ud835%udc93) %ud835%udc77%ud835%udc77%ud835%udc82%ud835%udc82%ud835%udc93%ud835%udc93%ud835%udc77%ud835%udc77%ud835%udc7d%ud835%udc7d %ud835%udc69%ud835%udc69%ud835%udc90%ud835%udc90%ud835%udc8f%ud835%udc8f%ud835%udc85%ud835%udc85 = %ud835%udc6a%ud835%udc6a %u00d7 [ %ud835%udc93%ud835%udc93 ] + (%ud835%udfcf%ud835%udfcf + %ud835%udc93%ud835%udc93)%ud835%udc8f%ud835%udc8fEGP 98,000 = (EGP100,000 x 5%) PVIFA (n = 6, i= 4.5%) +(EGP/$) x $5405 x PVIF (n = 6, i = 4.5%)EGP 98,000 = EGP 5000 x 5.158 + (EGP/$) x $5405 x 0.7679 EGP 98,000 = EGP 25,790 + (EGP/$) x $4150(EGP/$) x $4150= EGP 98,000- EGP 25,790= EGP 72,210This implies that the expected (EGP/$) = EGP 72,210 / $4150=17.4 EGP/$.