FIN 419 Expect Success/uophelp.com FIN 419 Expect Success/uophelp.com | Page 38

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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