Question $1$

The Lafayette Group, a private equity firm headquartered in Boston, borrows

$7,100,131$ for one year at $7\mathrm{.}375\%$ interest. What is the dollar cost of this debt if the pound

depreciates from $$2\mathrm{.}0260=1\mathrm{.}00$ to $$1\mathrm{.}9460=1\mathrm{.}00$ over the year? Note: do not round

intermediate steps. Round the final answer to two decimal places and enter as percentage,

e$.$g$.,5\mathrm{.}47.$