posted by Matt on .
Orbital Communications has operating plants in over 100 countries. It also keeps funds for transaction purposes in many foreign countries. Assume that in 2010 it held 100,000 kroner in Norway worth $35,000. The funds drew 12 percent interest, and the krone increased 6 percent against the dollar.
What was the value of the holdings based on U.S. dollars, at year-end?