Suppose a U

Multiple Choice

Suppose a U.S. citizen purchases a one-year Norwegian bond that yields 10 percent interest. Between the purchase date and the maturity date, the exchange rate changes from to How much was initially invested in the bond if the dollar value of the proceeds at maturity is $3,500? (roundoff up to the nearest whole number)

A) $2,916
B) $3,150
C) $3,500
D) $3,850
E) $4,200