Question
An investor in the United States bought a one-year Brazilian security valued at 290,000 Brazilian reals (R$). The U.S. dollar equivalent was $240,000. The Brazilian
An investor in the United States bought a one-year Brazilian security valued at 290,000 Brazilian reals (R$). The U.S. dollar equivalent was $240,000. The Brazilian security earned 14 percent during the year, but the Brazilian real depreciated 5 cents against the U.S. dollar during the time period ($.83 to $.78).
After transferring the funds back to the United States, what was the investors return on her $240,000? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
Investors Rate of Return in U.S Terms: ____% (give answer in percent)
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