A bicycle manufactured in the United States costs $100. Using the
exchange rates listed in the table to the right, what would the bicycle
cost in each of the following countries?
Country U.S. $ per Currency Currency per U.S. $
Argentina (peso) 0.3269 3.0590
Australia (dollar) 0.7543 1.3257
Britain (pound) 1.7705 0.5648
Canada (dollar) 0.8583 1.1651
China (renminbi) 0.1240 8.0655
Israel (shekel) 0.2165 4.6189
Japan (yen) 0.0087 114.42
Mexico (peso) 0.0947 10.5652
New Zealand (dollar) 0.6917 1.4457
Russia (ruble) 0.0349 28.670
Singapore (dollar) 0.6105 1.6380
Switzerland (franc) 0.7876 1.2697
EU (euro) 1.2154 0.8262
Note: the second column lists U.S. dollars per unit of foreign currency, or how much one unit of foreign currency is worth in U.S. dollars. The third column lists units of foreign currency per U.S. dollar, or how much 1 U.S. dollar is worth in foreign currency.© BrainMass Inc. brainmass.com October 10, 2019, 1:27 am ad1c9bdddf
The only thing that needs to be done here is that you have to calculate the equivalent currency unit in each of the destination countries. This means you need to find the value of $100 in each of those ...
The foreign exchange market is illustrated in the solution.