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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?