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An investor in the United States bought a one-year Brazilian security valued at 270,000 Brazilian reals (R$). The U.S. dollar equivalent was $220,000. The Brazilian security earned 15 percent during the year, but the Brazilian real depreciated 5 cents against the U.S. dollar during the time period ($.81 to $.76).

After transferring the funds back to the United States, what was the investor's return on her $220,000? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92794432

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