If last week the British pound was worth $1.62 and this week is worth $1.60, it...
If last week the British pound was worth $1.62 and this week is worth $1.60, it has _____ against the U.S. dollar by _____.
Group of answer choices
depreciated; 1.23%
appreciated; 1.23%
depreciated; 1.25%
appreciated; 1.25%
Homework Answers
Hello Sir/ Mam
YOUR REQUIRED ANSWER IS OPTION A : Depreciated : 1.23%
As we can now purchase lesser dollar for pound, hence, pound's value has decreased and by 0.02/1.62 = 1.23%
I hope this solves your doubt.
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