NO.PZ201601050100000102
问题如下：
2. Analyze the foreign-currency return for Portfolio B. Justify your choice.
选项： 解释： Justification The domestic-currency return for Portfolio
B is 0%, and the EUR appreciated 5% against the USD; therefore, the
foreign-currency return for Portfolio B is necessarily negative. The domestic-currency return on a foreign
portfolio will reflect both the foreign-currency return on the portfolio and
the percentage movements in the spot exchange rate between the domestic and
foreign currency. The domestic-currency return is multiplicative with respect
to these two factors: RDC = (1 + RFC)(1 + RFX)
– 1 where RDC is the
domestic-currency return (in percent), RFC is the foreign-currency
return of the asset (portfolio), and RFX is the percentage change of
the foreign currency against the domestic currency. (Note that once again, the
domestic currencythe USDis the price currency in the USD/EUR quote for RFX.) Solving for RFC: (1 + RFC)(1
+ 5%) – 1 = 0%; RFC = –4.76% 中文解析： 本小题考察的是外汇投资中return的计算公式：RDC = (1 + RFC)(1 + RFX) – 1 根据题干信息可知，现在RFX=5%，RDC =0，需要求解RFC。带入公式RDC = (1 + RFC)(1 + RFX) – 1计算即可。 
题目中也没让写数值，如果算错了还可能倒扣分，请问老师不写数值，只作定量解答可以吗？
nagative. Exchange rate of return is 5% since EUR appreciate against USD, and 0% domestic-currency return for Portfolio B. therefore foregin-currecny portfolio return is negative accoding to the domestic currency return function.
