Foreign Exchange
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1. Mrs Pitnner owns 100 shares of stock in Nokia valued at 16.5 euros per share. What is the value (in U.S dollars) of Mrs Pitnner's shares of stock when the exchange rate
a. .9188 yen = 1$
b. 70 yen = 1$
c. 1.212 yen =1$
2. John is planning on purchasing his dream car directly from the manufacturer in Germany. In order to do so, he must first convert his dollars to euros. His dream car has a price tag of 55,150 euros. How much does need in U.S. dollars to purchase this car if the exchange rate is .9800 euros to the dollars?
Explain how you arrive at your answers.
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The solution is very well explained and detailed. The OTA does an excellent job of explaining all the steps needed to get to the right answer. The solution is easy to understand as well. Overall, an excellent response.
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For 1(b), I think the questions should be 0.7 instead of 7. You can change the formula and put 0.7 if that is the case.
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If you look at the formulas in ...
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