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An Australian investor purchased a piece of land in Malaysia for MYR 50 million on 1st January 2021 . He sold the piece of land
An Australian investor purchased a piece of land in Malaysia for MYR 50 million on 1st January 2021 . He sold the piece of land for MYR 45 million on 1st January 2022. The spot rate on 1st January 2021,S(AUD/MYR)=0.34 AUD per MYR. The spot rate on 1st January 2022,S(AUD/MYR)0.30AUD per MYR. What was the rate of return to the Australian investor in AUD terms for the one year that he had the piece of land? Your answer should be in percentage terms rounded to two decimal places. In addition, please state if the return is positive or negative. Hint: use Rt+1=StVtSt+1Vt+11
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