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For a given six year period, the nominal interest rates per annum in the USA were 7%, 8%,6%,10% in years one, two, three ,four, respectively,
For a given six year period, the nominal interest rates per annum in the USA were 7%, 8%,6%,10% in years one, two, three ,four, respectively, and 9% in years five and six. In Kenya the rates were 15%,18%, 13%,17%,14% and 20%% in years one to six respectively. The exchange rates at the beginning of the period were 1 US$= 95Kshs. What was the likely exchange rate at the end of the period between US$ and the Kshs
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