Question
Last year the exchange rate was $1.16 per pound. This year the exchange rate is $1.30 per pound. What has been the change in the
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Last year the exchange rate was $1.16 per pound. This year the exchange rate is $1.30 per pound. What has been the change in the value of the dollar over the last year?
a. 12.1% increase in the value of the dollar.
b. 12.1% decrease in the value of the dollar.
c. 10.8% increase in the value of the dollar.
d. 10.8% decrease in the value of the dollar.
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Financial Management For Public, Health, And Not-for-Profit Organizations
Authors: Steven A. FinklerDaniel L. Smith, Thad D. Calabrese
6th Edition
978-1506396811, 150639681X
