Question: On the day you arrive in New Zealand the exchange
On the day you arrive in New Zealand, the exchange rate for U.S. dollars and New Zealand dollars is $1:2.25 NZ$. While you remain in New Zealand for the next few months, the exchange rate falls to $1:$1.75439 NZ$. When you entered New Zealand, you converted US$10,500 to NZ$. As you leave New Zealand, you have NZ$ 400. How much did you spend in New Zealand in U.S. dollars? Did the movement in the exchange rate help or hurt you?
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