Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter27: Multinational Financial Management
Section: Chapter Questions
Problem 6P
Related questions
Question
Assume the exchange rate is 1.05 Swiss francs per U.S. dollar. How many U.S. dollars are needed to purchase 1,250 Swiss francs?
Multiple Choice
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$1,315.79
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$1,190.48
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$1,128.80
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$1,140.00
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$1,318.46
Expert Solution
Step 1
Introduction:
The term exchange rate can be defined as a rate at which one currency will be exchanged against another currency & this takes place especially in international transactions.
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