Question $13$

$q,$ Thumper Inc. is a US based MNC$.$ It has one of its subsidiaries in Malaysia. The subsidiary requires a loan of $5$ million ringgits for a year. The interest rate in Malaysia is $65\%$ The holding company decides to borrow in dollars and convert in ringgits to cover the operating costs. The interest rate in US is $8\%.$ Determine by what $\%$ the dallar should appreciate against ringgits to cause the above strategy to backfire. $q,$

$q,$