Refer to Table 131. a. On October 15, 2021, you purchased a British pounddenominated CD by converting
Question:
Refer to Table 13–1.
a. On October 15, 2021, you purchased a British pound–denominated CD by converting $1 million to pounds at a rate of 0.7263 pound per U.S. dollar. It is now November 15, 2021. Has the U.S. dollar appreciated or depreciated in value relative to the pound?
b. Using the information in part (a), what is your gain or loss on the investment in the CD? Assume no interest has been paid on the CD.
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