What is the implied yen-dollar exchange rate at maturity, Finance Basics

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What is the implied yen-dollar exchange rate at maturity

Problem

A five-year, 8.5 percent Euroyen bond sells at par. A comparable risk five-year, 10.0 percent yen/dollar dual-currency bond pays $853.33 at maturity. It sells for ¥110,000. What is the implied ¥/$ exchange rate at maturity? Hint: The dual-currency bond pays 10.0 percent on a notional value of ¥100,000, whereas the par value of the bond is not necessarily equivalent to ¥100,000.

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Finance Basics: What is the implied yen-dollar exchange rate at maturity

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