Suppose we have the following exchange rate quotes: a. If you have $200, you can
ID: 2658749 • Letter: S
Question
Suppose we have the following exchange rate quotes:
a. If you have $200, you can get euros. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Use the €/$ exchange rate in your calculation.)
b. One euro is worth $ . (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)
c. If you have 5,500,000 euros, you have $ . (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Use the $/€ exchange rate in your calculation.)
d. You can get Mexican pesos for a euro. This type of rate is called (Click to select)foreign currencyexchange ratemixed ratecross rate . (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)
Explanation / Answer
in US$ per US$ Euro area (€) 1.3604 0.7351 Mexico (Ps) 0.0781 12.8041 a If you have $ 200 you can get euros (200*0.7351) 147.02 Euros b One Euro is worth $ 1.3604 c If you have 5500000 euros you have $ (5500000*1.3604) 7482200 dollars d You can get Mexican pesos for a euro. This type of rate is called cross rate foreign currency exchange rate