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Joe, one of the students in the College of Business, was curious about the trend of exchange rate between the Euro and US dollar. So,
Joe, one of the students in the College of Business, was curious about the trend of exchange rate between the Euro and US dollar. So, he looked up a website to find that the exchange rate between the Euro and US dollar was 1.12 Euro/USD in late 2001. However, as of October 2005, the exchange rate is .83 Euro/USD. What is the correct change in the value of the Euro since late 2001 to October 2005? [Hint: you probably need to convert the exchange rates into the right format to calculate the change. Increase in value by 34.9% O Increase in value by 25.9% O Decrease in value by 34.9% O Decrease in value by 25.9% None of the above
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