A portfolio manager invested $60$ Mn USD in real estate in France. The USD$/$EUR rate was $1\mathrm{.}06$ when the manager invested the money. The real estate appreciated by $10\%$ over the year. The trader converted the Euros back to USD after a year. At that time the rate of

Downloa

conversion was $1\mathrm{.}10$ USD$/$Eur$.$ Which of the following is correct?

The Euro appreciated against the USD, hence the return earned by this portfolio manager on his investment is more than $10\%$ in dollar terms.

Manager got $56\mathrm{.}60$ USD after a year.

Manager's investment earned $14\mathrm{.}15\%$ return.

Both a and c