Question

by what percent did the dollar price of a euro fall between 2008 and 2015?

E connect ECONOMICS ECON220: Introduction to Macroeconomics: ECON220 Summer 2020 E2WW Tirpack Hi 6-3: Homework 6 < Question 5 (of 7) > . Save 5. value: 5.00 points Soc 30 11 30 20 11 20 NEWS WIRE CURRENCY APPRECIATION What the Strong U.S. Dollar Means for Americans Traveling to Europe This Year Americans traveling to Europe this year will finally have a little relief at the register, or at least a smile on their faces when they examine their credit card statements once they get home. The euro has fallen significantly against the dollar in the past six months, tumbling down to US $1. 17 for 1 euro as of yesterday, a level not seen since 2006 This is quite a change for a currency that was valued as high as $1.60 during the summer of 2008 So what does this mean for US travelers to the Eurozone countries? Certain things are obvious Everyday charges will be cheaper, in dollar terms. Some examples of how this might affect your trip €65 dinner for two July 2008 = $104 January 2015 = 576.05. - €120 hotel room, per night July 2008 = 5192. January 2015 - $140. €11 museum entry, July 2008 - $17.60. January 2015 - $1287 You get the picture: Americans have much more buying power in Eurozone countries Source: Tom Meyers, www.eurochapo.com, January 15, 2015 By what percent the dollar price of a fall between 2008 and 2015? percent

Answer 1

Purce fall porcentage New value-oldValue X100 Old value 20087 €120 120157 €120 $192 (old value $140 (New Value 7. fall 140-192 X 100 192 =( 52 X 100 192 = 27.0837 7 2008-) € 65 $104 12045=E65 $76.05 (104-7605 lou - 26.875%. 7. fall X100 y fall

After analysing the percentage fall in the price of euro wrt to dollars, we find that fall is betwen 26.875% to 27.083%. But for the purpose of simplicity we will take the lesser value of 26.875% as the answer.