Erin mcqueen purchased 50 shares of bmw a german stock, Financial Management

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Erin mcqueen purchased 50 shares of bmw a german stock

Erin McQueen purchased 50 shares of BMW, a German stock traded on the Frankfurt Exchange, for 64.5 euros (€) per share exactly 1 year ago when the exchange rate was 0.67 €/US$. Today the stock is trading at 71.8 (€) per share, and the exchange rate is 0.75 €/US$.

a. Did the € depreciate or appreciate relative to the US$ during the past year? Explain.

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Financial Management: Erin mcqueen purchased 50 shares of bmw a german stock

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Financial Management: Erin mcqueen purchased 50 shares of bmw a german stock

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