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There are multiple questions similar to this and I understand how they get the total answer, but I can’t see to figure out how they are calculating the interest rate in days below. That’s the only part I am stuck on. Can someone help?
Maturity in euros = 100,000
5% interest for 90 days = 1.0125
Discounted proceeds = 98,765
Exchange rate per euro = $ 1.25
Dollar yield = $ 123,456
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