Please show the work written out for how to solve this, I need to see the step by step solution Thank you At time t, $1 2 1 and 1 5 1 At time t 1, $1 22 1 and 1 54 1 The pound has appreciated depreciated against the dollar Appreciated, 1 67 Depreciated, 1 67 Appreciated, 2 58 Depreciated, 2 58

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Please show the work written out for how to solve this, I need to see the step by step solution. Thank you! At time t,

Please show the work written out for how to solve this, I need to see the step by step solution. Thank you!

At time t, $1.2 = 1 and 1.5 = 1. At time t+1, $1.22=1 and 1.54 = 1. The pound has appreciated/depreciated _____________ against the dollar.
1. Appreciated, 1.67%
2. Depreciated, 1.67%
3. Appreciated, 2.58%
4. Depreciated, 2.58%

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