The value of the euro against the U.S. dollar when it began public trading on January 1, 2002 was $0.89139/€. Ten years later on January 1, 2012 the exchange rate was $1.29568/€. What was the average annual change in the value of the U.S. dollar over this 10-year period?
A) less than or equal to 0%
B) more than 0% and less than or equal to 5%
C) more than 5% and less than or equal to 10%
D) more than 10% and less than or equal to 15%
E) more than 15%
Correct Answer:
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