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Author: Wild
Publisher: MCG
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Chapter 15, Problem 8BTN
To determine

Introduction:

Foreign Exchange on Tours and Travels

  • While planning a trip to other countries, foreign currency of the country or countries that the person intends to visit is required in order to affect purchases in these countries.

  • With the advancement of technology and increase in tourism, there is ease in the procurement of foreign currency and appropriate currency exchange rates.

  • Exchange rates are the rate at which two or more currencies can be interchanged. There are standard exchange rates for currency pairs. For instance: If the currency exchange rate between Euros and Dollar is 1 € = 1.17 $ it means to purchase 1 €, $ 1.17 would be needed.

To Determine:

Locations where one can find exchange rates for the dollar relative to other currencies.

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Chapter 15 Solutions

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