Question

"Suppose that SPY: SPDR S&P 500 ETF Trust closed at $302.46 on March 5th and closed at $297.46 the following day, March 6th. What was the percent change of SPY?"

		1.68%
		-1.65%
		-1.68%
		1.65%

2-Suppose that the current spot exchange rate of USD for Chinese Yuan is 0.14 USD / CNY. If inflation in China is 2.7% and inflation in the US 1.6%, what would the new spot exchange rate be?"

		0.138 USD/CNY
		0.142 USD/CNY
		0.140 USD/CNY

Answer 1

Percent Change of SPY = (Closing price-Opening Price)/Opening price (297.46-302.46)/302.46 -0.01653 -1.65%!