See the attach file Essay Example | Topics and Well Written Essays - 1500 words

See the attach file - Essay Example From this latter perspective, a woman with no children and based on her religious beliefs does not seek medical care for herself, her family, or friends is causing harm by not seeking medical advice, although her act of not having children should be allowed. Mill offers several reasons why experiments of living should be allowed. He offers the infallibility argument, in which he contends that society, as it is, is not perfect and the only manner in which society can move forward is by allowing for experiments of life (Gray 52). Natural selection and the forces that drive it need change to occur if they are to work. The selective process would only allow the production of happiness. Whereby, if there is a greater population of people living happily under a particular method, this method will spread to other areas. Since a specific way of life could be an improvement on the way people live; no way of life should be forbidden or suppressed (Gray 52). In the case of a woman with no child ren refusing medical help for anyone, her life cannot bring any happiness and, as such, cannot spread. This way of life will not improve anyone’s life, including hers. ... Ways of life that are flawed, rendering them undesirable as the common rule, rather than being the exception, do possess merits and valuable ideas. Ideas that can benefit society can only be achieved when society allows practical testing and trial of these ways of life (Gray 54). Therefore, even disagreeable living experiments like that of this woman should be allowed in the case of not bearing children. This partly true argument can be furthered through the contention that even a way of life that has no tangible benefits for anyone involved must be allowed. This is because it will act as a highlight to the benefits of other ways of life (Gray 55). Only when society tries out a way of life in reality that it can be judged to have no merit. Hence, it acts as evidence of the manner in which its guiding principles work practically. For example, the woman who refuses medical care for everyone may be suggestive of life that is permanently full of divine grace and hope, which is a perfect aim to work for. An experiment of living like this one offers vivid evidence that the goal it aims for is flawed. John Mill also argues that the fact that the human race is made of diverse groups and cultures, is proof that society should encourage diverse modes of living. All persons possess different characters and, therefore, all persons have diverse ways of life, which are best for them. In John Mill’s words, â€Å"The same mode of life is a healthy excitement to one, keeping all his faculties of action and enjoyment in their best order, while to another it is a distracting burden which suspends or crushes all internal life† (Mill 44). Where there is an attempt to

International Finance Assignment Example | Topics and Well Written Essays - 1250 words

International Finance - Assignment Example For cash payments, it can sell the 90-days forward contract to buy US$ at 1.6930. At the expiry, the company will have to sell C$6,237,448 to buy the US$10,560,000. Furthermore, for the receipts the company will have to buy C$ at 1.6960 where it will be selling US$1,560,000 to buy C$919,811. Keeping in view the costs of transactions, the company can sell the 90-days forward contract to hedge the net cash flows of US$9,000,000 at bid rate of C$/US$ 1.6930. The amount payable will be C$5,316,007. ii. Money market hedge on payables will involve taking money market position to cover the future payment. Kennedy Plc can either use its own funds for the hedge or it can borrow the funds in home currency (C$) and make a short-term investment for 90 days in foreign currency. C$ borrowing rate = 3.5625% US$ deposit rate = 2.25% It needs US$10,560,000 in 90 days, therefore, the amount needed to be deposited in US$ is US$10,560,000 / (1 + (0.0225 * (90/360))) = US$10,500,932 Deposit amount in C$ = US$10,500,932/ 1.6875 = C$6,222,774 This amount can be borrowed at an annual interest rate of 3.5625%. C$ amount of loan repayment after 3 months = C$6,222,774* (1+ (0.035625 *(90/360))) = C$6,278,196 Therefore, the company would borrow C$6,222,774 at 3.5625% p.a. for 90 days. Convert the amount into US$ at spot rate of 1.6875, which will amount to US$10,500,932. Deposit this amount at US$ money market deposit rate 2.25% p.a. for 90 days. This will give the amount to be paid i.e. US$10,560,000. At the end of 90 days, Kennedy will make the loan repayment of C$6,278,196. This hedge will allow the company to fix the amount to be paid after three months. To hedge the receivables: Amount expected to be received = US$1,560,000... There are mainly three types of foreign exchange risks or exposures.This is also known as accounting risk, which a firm faces when it has subsidiary operations in other countries. When the foreign exchange movements adversely affect the translated values of assets and liabilities of the subsidiaries, it becomes an unwanted exposure for the parent company’s consolidated financial statements. This risk can be hedged by using currency futures, currency swaps etc.Transaction Exposure: This exposure is related to the future payments and receipts in foreign currency. Companies many a times limit this type of exposure by requiring the cash flows to be received and made in the home currency rather than foreign currency. Another way to minimize this risk is netting out the exposure by a lot of different currencies or only in one currency (Jacque, 1997, p.177). This is done by large corporations with significant amounts of international operations. Other techniques for alleviating short -term currency risks are currency forwards, currency futures, money market hedge, option hedge and cross hedge (Kelley, 2001, pp.32-34).Economic Exposure: This exposure is faced by corporations with large international presence and relates more with the net present value of future cash flows of a firm. The management of economic exposure involves the use of complex instruments and strategies besides the foreign exchange management (Ajami and Goddard, 2006, pp.110-111)