Assume that the yen/dollar exchange rate quoted in tokyo at 3: 00 p. m. is ¥120 = $1, and the yen/dollar exchange rate quoted in new york at the same time is ¥123 = $1. a dealer in new york uses dollars to purchase yen and then immediately sells the yen to buy dollars in tokyo, thereby making a profit. the dealer has engaged in what?

You wish to retire in 13 years, at which time you want to have accumulated enough money to receive an annual annuity of $23,000 for 18 years after retirement. during the period before retirement you can earn 9 percent annually, while after retirement you can earn 11 percent on your money. what annual contributions to the retirement fund will allow you to receive the $23,000 annuity? use appendix c and appendix d for an approximate answer, but calculate your final answer using the formula and financial calculator methods.