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Fundamentals of Financial Manageme...

14th Edition
Eugene F. Brigham + 1 other
ISBN: 9781285867977

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BuyFindarrow_forward

Fundamentals of Financial Manageme...

14th Edition
Eugene F. Brigham + 1 other
ISBN: 9781285867977
Textbook Problem

EXCHANGE RATE If British pounds sell for $1 67 (U.S.) per pound, what should dollars sell for in pounds per dollar?

Summary Introduction

To identify: The exchange rate for pound per dollar.

Introduction:

Foreign Exchange Rate: Foreign exchange rate refers to the rate required to obtain a currency in other country’s currency.

Explanation

Computation of exchange rate for pound per dollar:

Given,

Exchange rate for dollar per pound is $1.56 per pound.

$1.67=1Pound$1=1Pound1

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