   Chapter 17, Problem 1P ### Fundamentals of Financial Manageme...

9th Edition
Eugene F. Brigham + 1 other
ISBN: 9781305635937

#### Solutions

Chapter
Section ### Fundamentals of Financial Manageme...

9th Edition
Eugene F. Brigham + 1 other
ISBN: 9781305635937
Textbook Problem
16 views

# EXCHANGE RATE If British pounds sell for $1.53 (U.S.) per pound, what should dollars sell for in pounds per dollar? Summary Introduction To determine: The exchange rate of US dollar for a pound. Introduction: Exchange Rate: 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 US dollars is$1.53 per pound.

Formula to calculate the exchange rate of US dollars in pounds,

Exchange rate of US dollar in pond=1Exchange rate of pond in US dollar

Substitute \$1

### Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

#### The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

#### Find more solutions based on key concepts 