a year ago the Euro was trading for 1.357 USD per Euro. today the Euro is tradin
ID: 2650308 • Letter: A
Question
a year ago the Euro was trading for 1.357 USD per Euro. today the Euro is trading at 1.125 USD per Euro. if a German investor bought an ounce of gold a year ago for $1300 and sold it today for $1200 how many Euros would he have today? did the change in the exchange rate hurt or help the investor? a year ago the Euro was trading for 1.357 USD per Euro. today the Euro is trading at 1.125 USD per Euro. if a German investor bought an ounce of gold a year ago for $1300 and sold it today for $1200 how many Euros would he have today? did the change in the exchange rate hurt or help the investor? a year ago the Euro was trading for 1.357 USD per Euro. today the Euro is trading at 1.125 USD per Euro. if a German investor bought an ounce of gold a year ago for $1300 and sold it today for $1200 how many Euros would he have today? did the change in the exchange rate hurt or help the investor?Explanation / Answer
Answer: year ago:
1 Euro=1.357 USD
year ago he have Euro= $1300/1.357=958
Today:
Exchange rate: 1 Euro =1.125 USD
he sold the euro today than he have euro today is=$1300-$1200=$100/1.125=89Euro
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