Assignment:
In early August 2002 (the exact date is a state secret), North Korea reduced the official value of the won from $0.465 to $0.0067. The black market value of the won at that time was $0.005.
a. By what percentage did the won devalue?
b. Following the initial devaluation, what further percentage devaluation would be necessary for the won to equal its black market value?
Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.