Bullock Corporation Invests 1,500,000 South African Rand at a Nominal

Bullock Corporation invests 1,500,000 South African rand at a nominal interest rate of 10%. At the time the investment is made, the spot rate of the rand is $.205. If the spot rate of the rand at maturity of the investment is $.203, what is the effective yield of investing in rand?

A) 11.08%.
B) 8.92%.
C) 10.00%.
D) none of the above