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How many euros will have in your eurozone bank account

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Reference no: EM132634879

Problem 1: Suppose you have $4,000 and want to convert the dollars into euros and earn interest in a bank in the eurozone. If E$/€ = 0.90 at the beginning of the period and the interest rate in the eurozone is 3.0% per year, then how many euros will you have in your eurozone bank account at the end of one year?

Reference no: EM132634879

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