Alibaba Group entered a currency swap with Goldman Sachs three years ago. According to the contract, every year Alibaba pays 4% in US dollars (USD) on a principal of $200 million and receives 7% in Chinese Yuan (CNY) on a principal of 1,400 million CNY. The swap will last another 4 years with the next payment due in one year. The interest rates in United States and China are as follows: Maturity US Interest Rate (%) Chinese Interest Rate (%)
1 year 2.07 5.03
2 years 2.24 5.27
3 years 2.39 5.38
4 years 2.49 5.57
What should Goldman Sachs report as the fair value of the contract if the current exchange rate is 1 USD = 6.75 CNY?

The total value of your portfolio is $10,000: $3,000 of it is invested in stock a and the remainder invested in stock b. stock a has a beta of 0.8; stock b has a beta of 1.2. the risk premium on the market portfolio is 8%; the risk-free rate is 2%. additional information on stocks a and b is provided below. return in each state state probability of state stock a stock b excellent 15% 15% 5% normal 50% 9% 7% poor 35% -15% 10% what are each stock’s expected return and the standard deviation? what are the expected return and the standard deviation of your portfolio? what is the beta of your portfolio? using capm, what is the expected return on the portfolio? given your answer above, would you buy, sell, or hold the portfolio?

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