FIN 419 help A Clearer path to student success/uophelp.com FIN 419 help A Clearer path to student success/uop | Page 43

on:   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 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?