In 12 August, 2019, Jenny Lee, an Australian resident transferred AUD100,000 to New York to purchase shares on the New York Stock exchange (NYSE) in an American listed company. She sold the shares yesterday making a return in US dollars (USD) of 8.35%. You have discovered that the AUD/USD exchange rate fell by 2.34% over the period she held the shares. What was her return in AUD, expressed as a percentage correct to two decimal places, for the year she held the shares?

Answer rating: 100% (QA)

Answer In terms of USD percentage amount invested on 12 August 2019 100 Return in US dolla... View the full answer