- In other words, we would take $992,596 today and convert it at today's rate into 99,378,882. - Next, we would lend the 99,378,882 to the Japanese government at the 2.5% rate. - In 90 days the Japanese Government would repay us 100MLet X== we need today. Then: X(1+0.025/4)={ 100mX=799,378,882. - Hence the $ we would need today to convert into would be: 799,378,882 50.009988==$992,596..