DIRECTIONS: For each country below, you are given a savings account interest rate, an initial deposit (USD), and the length of time you will keep the money deposited, plus starting and ending interest rates. For each country, determine the following:
a. Your total gain or loss, correct to the nearest cent.
b. The percentage by which your investment grew or shrank, correct to the nearest tenth of a percent.
UNITED KINGDOM
Initial Deposit: $3500 USD
Starting exchange rate: USD/GBP 0.8213
Time: 4 years
APR: 2.50%, compounded monthly
Ending exchange rate: USD/GBP 0.6634
BRAZIL
Initial Deposit: $1200 USD
Starting exchange rate: USD/BRL 3.1289
Time: 5 years
APR: 5.95%, compounded monthly
Ending exchange rate: USD/BRL 3.7519
AUSTRALIA
Initial Deposit: $2150 USD
Starting exchange rate: USD/AUD 1.3341
Time: 7 years
APR: 2.85%, compounded monthly
Ending exchange rate: USD/AUD 1.1892
ARGENTINA
Initial Deposit: $1000 USD
Starting exchange rate: USD/ARG 19.9716
Time: 3 years
APR: 18.1%, compounded monthly
Ending exchange rate: USD/ARG 24.1561
KAZAKHSTAN
Initial Deposit: $575 USD
Starting exchange rate: USD/KZT 318.425
Time: 10 years
APR: 10.00%, compounded monthly
Ending exchange rate: USD/KZT 341.295
CANADA
Initial Deposit: $4000 USD
Starting exchange rate: USD/CAD 1.3503
Time: 6 years
APR: 1.75%, compounded monthly
Ending exchange rate: USD/CAD 1.1271
ON THE BACK:
Write each direct quote (2 per country) as an INDIRECT QUOTE, correct to 4 decimal places.