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The value of a currency appreciated by 7.80% of its value last month and then depreciated by 7.80% this month. By what percent did the currency appreciate or depreciate over the 2-month period?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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The value of a currency appreciated by 7.80% of its value last month and then depreciated by 7.80% this month. By what percent did the currency appreciate or depreciate over the 2-month period?

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