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Initially, you have $10,000 and you want to invest into the Chinese market. You convert with the exchange rate of 1 USD = 8.25 Chinese
- Initially, you have $10,000 and you want to invest into the Chinese market. You convert with the exchange rate of 1 USD = 8.25 Chinese Yuan. Unfortunately, your investment did not pay off and you lost 10% on your Chinese investment. Now, you'd like to exchange back to USD and the current exchange rate is 1 USD = 8.00 Chinese Yuan. In percentage 2 decimal places, what is your return in USD after converting?
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Basic Finance An Introduction To Financial Institutions Investments And Management
Authors: Herbert B. Mayo, Michael J Lavelle
13th Edition
0357714741, 978-0357714744
