Purchase Solution

Converting currencies

Not what you're looking for?

Ask Custom Question

Attached are converting currency problems with a table to reference.

The data for Study Problems 22-1B through 22-2B are given in the following table:

Selling Quotes for Foreign Currencies in New York
COUNTRY-CURRENCY CONTRACT $/FOREIGN CURRENCY
Canada-dollar Spot .8439
30-day .8410
90-day .8390
Japan-yen Spot .004680
30-day .004720
90-day .004787
Switzerland-franc Spot .5140
30-day .5179
90-day .5335

22-1B. (Converting currencies) An American business needs to pay (a) 15,000 Canadian dollars, (b) 1.5 million yen, and (c) 55,000 Swiss francs to businesses abroad. What are the dollar payments to the respective countries?

22-2B. (Converting currencies) An American business pays $20,000, $5,000, and $15,000 to suppliers in, respectively, Japan, Switzerland, and Canada. How much, in local currencies, do the suppliers receive?

Attachments
Purchase this Solution
Solution Summary

The solution explains how to calculate the equivalent US dollars given the foreign exchange rates

Solution Preview

Please see the attachment.

The data for Study Problems 22-1B through 22-2B are given in the following table:

Selling Quotes for Foreign Currencies in New York
COUNTRY-CURRENCY CONTRACT $/FOREIGN CURRENCY
Canada-dollar Spot .8439
30-day .8410
90-day .8390
Japan-yen Spot .004680
30-day .004720
90-day .004787
Switzerland-franc Spot .5140
...

Purchase this Solution
Free BrainMass Quizzes
Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

View More Free Quizzes
Related BrainMass Solutions

  • Valuation of an MNC. Yahoo!

    would change if most investors suddenly expected that the dollar would weaken against most currencies over time.

  • Currency Depreciation of Foreign Exchange Markets

    This removes the utilization of converting to the dollar.

  • accounting exposure

    Reference: http://www.finance.isu.edu.tw/download/jiayiran/basic12.ppt When converting financial statement items (transactions) denominated in currencies other than the parent currency, two choices of exchange rate are possible: ² The historical

  • Economic and Financial Factors: Impact on Currency Value

    You can start simply by converting US Dollars to a foreign currency, watching the trends, and then converting it back when conditions are favorable.

  • Calculating Exchange Rate

    Euros to Pounds Converting Euros to pounds at the rate of .7 pound per euro, gives you 455 pounds. 4. Pounds to US dollars. Each pound is worth $1.50 at the bid rate, giving you $910. The solution converts currencies using bid and ask rates.

  • Converting Foreign Currencies

    193285 Converting foreign currencies Country Currency Contract $/Foreign Currency Canada - dollar Spot .8437 30 day .8417

  • Writing a Narrative Program: Example Currency Conversion

    The narrative should display a title, "Currency Conversion," and then write the names of currencies and exchange rates. Allow the user to select a country and exchange rate from a menu.

  • International Finance Review

    borrowing in a foreign country and converting the funds to the local currency prior to the depreciation. purchasing foreign supplies.

  • Major Types of Foreign Exchange Risks

    Transaction exposure or risk arises out of various types of transactions including international trade, lending and borrowing in foreign currencies etc.

View More Related Solutions