Suppose one British pound can purchase 1.74 U.S.dollars today in the foreign exchange market,and currency forecasters predict that the U.S.dollar will depreciate by 12.00% against the pound over the next 30 days.How many dollars will a pound buy in 30 days?
A) $2.1047
B) $2.2411
C) $1.6370
D) $1.9488
E) $2.2996
Correct Answer:
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