Malaysian Island Resort. Theresa Nunn is planning a 30-day vacation on Pulau Penang, Malaysia, one year from now. The present charge for a luxury suite plus meals in Malaysian ringgit (RM) is RM1,050/day. The Malaysian ringgit presently trades at RM3.1350/$. She determines that the dollar cost today for a 30-day stay would be $10,047.85. The hotel informs her that any increase in its room charges will be limited to any increase in the Malaysian cost of living. Malaysian inflation is expected to be 2.7088% annum, while U.S. inflation is expected to be 1.299%.

a. How many dollars might Theresa expect to need one year hence to pay for her 30-day vacation?

b. By what percent will the dollar cost have gone up?

a. How many dollars might Theresa expect to need one year hence to pay for her 30-day vacation?

The amount Theresa might expect to need one year hence to pay for her 30-day vacation is % (Round to the nearest cent.)

b. By what percent will the dollar have gone up?

The percentage the dollar cost will have gone up is %. (Round to three decimals.)