When The CD Matured Exactly One Year After He Purchased It, Robert Received $843.57. How Many Euros Had Michel Given Robert?

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Madhumita 4 Years Ago
393

Michel sent Robert a check payable in euros. He asked Robert to put the money into a savings account in an American bank for one year. Robert converted the euros to dollars on a day when the exchange rate was $1.26 per euro. He used that money to purchase a one-year certificate of deposit (CD) that paid 3% interest.

 

 When the CD matured exactly one year after he purchased it, Robert received $843.57. How many euros had Michel given Robert?

asked Jun 11 12:00:00 AM

Madhumita

Q: 339 A: 0

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