Robert Sent Michel A Check For The $843.57 He Received When The CD Matured. On The Day That Michel Converted The $843.57 Back To Euros, The Exchange Rate Was $1.28 Per Euro.To The Nearest Euro, How Much Profit Did Michel Make On The Entire Transaction?

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Madhumita 4 Years Ago
313

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.

Robert sent Michel a check for the $843.57 he received when the CD matured. On the day that Michel converted the $843.57 back to euros, the exchange rate was $1.28 per euro.To the nearest euro, how much profit did Michel make on the entire transaction?

asked Jun 11 12:00:00 AM

Madhumita

Q: 339 A: 0

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