Question
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
1. Calculate the new exchange rates and show all the calculations
Answers
GPT 3.5
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.
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.