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SinTell has USD $30 million in excess cash that it has invested in China at...

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Finance

SinTell has USD $30 million in excess cash that it has invested in China at an annual interest rate of 12 percent. The U.S. interest rate is 2 percent. By how much would the Chinese yuan have to depreciate to cause such a strategy to backfire? Give your answer in decimal point, rounding up to 4 decimal places.

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