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P18-1
Foreign exchange and commodity prices.
While traveling in
the following countries, you see twenty-ounce plastic bottles of CocaCola. You know the price in the United States for a Coke is
$0.990.99,
but the countries have the following prices:
Canada:
C$1.54
Japan:
¥155
England:
£0.46
European Union:
euro€0.89
What is the implied exchange rate for U.S. dollars and these four
currencies?

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