dollars

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
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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
  •  

    $1,315.79

  •  

    $1,190.48

  •  

    $1,128.80

  •  

    $1,140.00

  •  

    $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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