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  • 5 years ago

The beautiful, mythical country of Coloradial uses the teo as its currency, and the gritty, post-industrial country of Oheo uses the eren. Exactly one year ago you could get 100 teos in exchange for 5 erens in the foreign exchange market. Since then, though, the real interest rate in Coloradial has increased, while staying constant in Oheo. One year ago, you borrowed 100,000 teos from a Coloradial bank at a rate of 3% per year. You then traded the 100,000 teos for erens at the nominal exchange rate which prevailed at the time (100 teos = 5 erens), and invested those erens in Oheo at 5% in

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  1. anonymous
    • 5 years ago
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