Suppose you open a mexican peso bank deposit with 100 u. s. dollars when the exchange rate is 10 pesos per dollar. the peso deposit pays 20% per year interest. after one year the exchange rate equals 12 pesos per dollar. how many dollars is your peso deposit worth after one year?

At the end of the year the Peso Deposit is worth 100 US dollars.

Explanation:

When we open the account 1 dollar is worth 10 pesos. So when we exchange 100 dollars into pesos to open the account we have (100*10)= 1,000 Pesos in our account. The deposit pays us 20% interest rate so at the end of the year we have (1.20*1000) =1200 Pesos at the end of the year. When the year ends 1 dollar is worth 12 Pesos, so when we convert our Pesos into dollars we will have to divide them by 12

Dollars = 1200/12= 100

SO at the year the Peso Deposit is worth 100 US Dollars.

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