Chapter 17, Problem 1P

### Fundamentals Of Financial Manageme...

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

Chapter
Section

### 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:

ExchangeÂ rateÂ ofÂ CountryÂ UÂ dollarÂ inÂ pound=1ExchangeÂ rateÂ ofÂ poundÂ inÂ CountryÂ UÂ dollar

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