Saturday, November 9, 2019

You just returned from some extensive traveling throughout the Americas. You started your trip with $20,000 in your pocket

Currently, $1 will buy C$1.2103 while $1.2762 will buy €1. What is the exchange rate between the Canadian dollar and the euro? 
 
A. 
C$1 = €0.6474

B. 
C$1 = €0.6539

C. 
C$1 = €1.2762

D. 
C$1.5446 = €1

E. 
C$1.5528 = €1
(C$1.2103/$1) ($1.2762/€1) = C$1.5446/€1


55.
Assume that ¥95.42 equal $1. Also assume that SKr7.7274 equal $1. How many Japanese yen can you acquire in exchange for 3,000 Swedish krone? 
 
A. 
¥235

B. 
¥261

C. 
¥37,045

D. 
¥39,024

E. 
¥39,520
SKr3,000 ($1/SKr7.7274) (¥95.42/$1) = ¥37,045


56.
You just returned from some extensive traveling throughout the Americas. You started your trip with $20,000 in your pocket. You spent 3.4 million pesos while in Chile and 16,500 bolivares in Venezuela. Then on the way home, you spent 47,500 pesos in Mexico. How many dollars did you have left by the time you returned to the U.S. given the following exchange rates? (Note: Multiple symbols are used to designate various currencies. For example, the U.S. dollar is notated as "$" or as "USD".)

    
 
A. 
1,113 USD

B. 
3,535 USD

C. 
4,117 USD

D. 
4,244 USD

E. 
7,408 USD
20,000USD - [3.4mCLP (1USD/668.0001CLP)] - [16,500 VEF (1USD/2.1473VEF)] - [47,500MXN × (0.0777USD/1MXN) = 3,535USD


57.
You have 100 British pounds. A friend of yours is willing to exchange 180 Canadian dollars for your 100 British pounds. What will be your profit or loss if you accept your friend's offer, given the following exchange rates?

    
 
A. 
£10.20 loss

B. 
£13.29 loss

C. 
£28.51 loss

D. 
£10.20 profit

E. 
£28.51 profit
[£100 × (C$180/£100) ($1/C$1.245) (£1/$1.6100)] - £100 = -£10.20 = £10.20 loss

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