Question: Please show the step by step solutions as well as formula used so I can follow along and understand. Thank you. At time t, $

Please show the step by step solutions as well as formula used so I can follow along and understand. Thank you.

  1. At time t, $ 1.2 = 1 and 1.5 = 1. At time t+1, $1.25= 1 and 1.9 = 1. The pound has appreciated/depreciated _____________ against the euro.
    1. Appreciated, 17.76%
    2. Depreciated, 17.76%
    3. Appreciated, 26.67%
    4. Depreciated, 26.67%

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