An investor places a sum of R100000 in a US dollar denominated overseas fixed interest investment earnings 6% p.a. compound for a one-year, and "repatriates" the investment with the interest at the end of the year. During the period, the value of Rand depreciates from R7. 01 per dollar to R7.29 per dollar. Indicate whether this investment proves to be a better one than leaving the R100000 in a local savings account earning 3% per annum, drawing kn relevant calculations to support your argument
