FIN 419 ASSIST Perfect Education/fin419assist.cofi FIN 419 ASSIST Perfect Education/fin419assist.cofi | Page 61

P18-3
You are taking a trip to six European countries. It is a ten-day trip,
and you are taking $ 3900 The current direct conversion rate is
$1.1723 for euros. While in Europe, you spend euro€3 161.323 You
convert your remaining euros back to U.S. dollars upon your return.
If the exchange rates remained the same over your trip, how much
do you have left in U.S. dollars?
P18-4
Currency exchange rates.
On the day you arrive in England, the
exchange rate for U.S. dollars and British pounds is $1:pound 0.53
You have $3900, which you convert to pounds. While you remain in
England for the next two weeks, the exchange rate falls to $1:£0.490
As you leave England, you convert the £126 you have left to dollars.
How much did you spend in England in U.S. dollars? Did the
movement in the exchange rate help or hurt you?
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