1.2) On June 18, 2007, one U.S. dollar bought 124.09. On June 18, 2012, one U.S. dollar was worth 80.52. By June 18, 2015, the U.S. dollar moved to 123.53.

a) Did the yen appreciate or depreciate against the U.S. dollar between June 2007 and June 2012? Did such trend continue between June 2012 and June 2015?

b) How many U.S. dollars did one yen buy on June 18, 2007? And on June 18, 2012? What was the U.S. dollar value of the yen on June 18, 2015?

c) By what percentage has the yen appreciated/depreciated against the U.S. dollar between June 2007 and June 2012? And between June 2012 and June 2015?

d) By what percentage has the U.S. dollar appreciated/depreciated against the yen between June 2007 and June 2012? And between June 2012 and June 2015?

e) Do your answers to questions d) and c) change if you consider the entire sample period (2007-2015)?