Answer:
Option C is the right answer
Explanation:
In this question, we are asked to state what happens in a transaction given some level of information.
Firstly, we need to understand what a certificate of deposit is. A certificate of deposit referred to as CD is a kind of bank product that stipulates that a customer has agreed to leave a certain amount of money in the bank for a particular period of time untouched at an interest rate higher than normal and otherwise tagged as premium.
Now, it must be stated that it was after he was issued that there was a drop in prices. Whatever happens during the drop will not affect him and would be the bank’s concerns simply because his own rate had been predetermined and nothing could change this as he had been issued a contract to that affect.
A drop in price will thus make his initial deposits higher now since there is a drop in price will generally, the bank will bear the brunt of the drop in price hence, losing
Less than a pound.
First, we should have an understanding that so many factors affect the exchange rate, factors such as political instability, inflation rate, speculations, Governments debt etc. Based on this fact, there is always fluctuation with the exchange rate. However as of today 31/01/2019, If you lived in Great Britain and wanted to buy one euro, it will cost you £0.87 to buy €1
