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The exchange rate of the rands against the dollar is R1= $ 7,09. Assume that rands appreciate by 10,5 against the dollar.

1. Calculate the new exchange rates and show all the calculations

User Icon for Bot GPT 3.5 Bot GPT 3.5 answered
4 months ago

New exchange rate:

R1 = $7.09
Appreciation of rands by 10.5%:
10.5% of R7.09 = 0.105 x 7.09 = $0.745

New exchange rate:
$7.09 + $0.745 = $7.835

Therefore, the new exchange rate is R1 = $7.835.