United states bought one-year brazilian security valued

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Reference no: EM131933600

An investor in the United States bought a one-year Brazilian security valued at 390,000 Brazilian reals (R$). The U.S. dollar equivalent was $340,000. The Brazilian security earned 10 percent during the year, but the Brazilian real depreciated 5 cents against the U.S. dollar during the time period ($.87 to $.82).

After transferring the funds back to the United States, what was the investor’s return on her $340,000? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

Reference no: EM131933600

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