what should be the exchange rate for the 2nd conversion to meet my profit target?  

My name is Maurice. I have $3,000 in FXCM (Foreign Exchange Market). I am considering converting dollar to Euro now. The rate I apply now (first exchange rate conversion) is 0.9 Euro/$. In the evening, I bet the rate will be favorable to me. Let's assume there are no service fees about this process.   If I strongly believe in my speculation, and I want to make at least $200 profit from this process, what should be the exchange rate for the 2nd conversion to meet my profit target?  (Rounding: 1/100, e.g. .468 -> .47)   Group of answer choices  Less than or Equal to .87 Euro/$  Less than or Equal to .84 Euro/$  Less than or Equal to .95 Euro/$  Less than or Equal to .92 Euro/$

 

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determine values for K7 and K8.

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