Assume the exchange rates for the Canadian dollar versus the U.S.dollar are Which statement is correct given this information?
A) Last week, it took C$.8759 to purchase $1.
B) This week you can exchange C$1 for $1.1414.
C) It is cheaper for an American to travel in Canada this week than it was last week.
D) The Canadian dollar depreciated from last week to this week.
E) You would have made a profit if you had invested $100 in Canadian dollars last week and then converted your money back to U.S.dollars this week.Ignore any interest earnings.
Correct Answer:
Verified
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