Question

Suppose it takes 1.82 U.S. dollars today to purchase one British pound in the foreign exchange market, and currency forecasters predict that the U.S. dollar will depreciate by 12.0% against the pound over the next 30 days. How many dollars will a pound buy in 30 days?
a. 1.12
b. 1.63
c. 1.82
d. 2.04
e. 3.64

Answer

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