If One USDollar Could Be Exchanged for One Canadian Dollar in 1970,and

question 114

Multiple Choice

If one U.S.dollar could be exchanged for one Canadian dollar in 1970,and one U.S.dollar can now be exchanged for 1.13 Canadian dollars,which of the following is true?

• A)The U.S.dollar lost value against the Canadian dollar.
• B)The Canadian dollar lost value against the U.S.dollar.
• C)The Canadian dollar gained value against the U.S.dollar.
• D)Both A and C are true.

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Definitions:

Payment Interval

The interval at which payments are issued, like monthly, every three months, or once a year.

Periodic Interest Rate

The interest rate charged or paid over a particular period of time, often less than a year, such as monthly or quarterly.

Annuity

A monetary product ensuring regular payouts to an individual, commonly incorporated into strategies for retirement.

Payment Interval

The frequency at which payments are made or received, such as monthly, quarterly, or annually.