Imagine you invested the Australian stock market by exchanging USD for AUD in order to buy a basket of stocks listed on the Sidney stock exchange. One year later, your broker statement shows that the stocks had a 16% return in Australian Dollars. When you exchange your investment back into USD you realize that the AUD/USD exchange rate has gone from 1.30 initially to currently 1.40. What was your total return when measured in USD?

Question 15 (1 point) Imagine You invested in the Australian stock market by exchanging USD for AUD in order to buy a basket of stocks listed on the Sidney stock exchange. One year later, your broker statement shows that the stocks had a 16% return in Australian Dollars. When you exchange your investment back into USD you realize that the AUD/USD exchange rate has gone from 1.30 initially to currently 1.40. What was your total return when measured in USD? 23.69% 62.40% 24.92% 20.0%