Table 18-3CountryUnits of Foreign Currency per U.S. DollarU.S. Dollars per Unit of Foreign CurrencyDanish krone5.00​EU euro0.70​Refer to Table 18-3. Given the following exchange rates in the above table, what are the exchange rates stated as U.S. dollars per Danish krone and U.S. dollars per EU euro respectively?Group of answer choices0.02 dollars per krone and 0.70 dollars per euro2.00 dollars per krone and 7.14 dollars per euro0.05 dollars per krone and 1.30 dollars per euro0.20 dollars per krone and 1.43 dollars per euro

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Asked Nov 11, 2019
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Table 18-3

Country Units of Foreign Currency per U.S. Dollar U.S. Dollars per Unit of Foreign Currency
Danish krone 5.00
EU euro 0.70

Refer to Table 18-3. Given the following exchange rates in the above table, what are the exchange rates stated as U.S. dollars per Danish krone and U.S. dollars per EU euro respectively?
Group of answer choices
0.02 dollars per krone and 0.70 dollars per euro
2.00 dollars per krone and 7.14 dollars per euro
0.05 dollars per krone and 1.30 dollars per euro
0.20 dollars per krone and 1.43 dollars per euro
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Expert Answer

Step 1

Exchange rate refers to value of currency of a country with respect to the value of currency of another country.

Step 2

The exchange rate between the currencies of krone and ...

ldollar
Krone krone
Exchange rate
1
5
=0.2
ldollar
Exchange rateEuro
euro
1
0.70
-1.43
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ldollar Krone krone Exchange rate 1 5 =0.2 ldollar Exchange rateEuro euro 1 0.70 -1.43

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