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Fundamentals Of Financial Manageme...

10th Edition
Eugene F. Brigham + 1 other
ISBN: 9781337902571

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BuyFindarrow_forward

Fundamentals Of Financial Manageme...

10th Edition
Eugene F. Brigham + 1 other
ISBN: 9781337902571
Textbook Problem

EXCHANGE RATE If British pounds sell for $1.30 (U.S.) per pound, what should dollars sell for in pounds per dollar?

Summary Introduction

To determine: The exchange rate of Country U dollar for a pound.

The rate which indicates the conversion rate for the currency of a country which can be obtained in exchange of currency of another country is an exchange rate.

Explanation

Given information:

The exchange rate of pound in Country U dollars is $1.30 per pound.

The formula to calculate the exchange rate of Country U dollars in pounds:

Exchange rate of Country U dollar in pound=1Exchange rate of pound in Country U dollar

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