Use the information in Figure 21.1 to answer the following questions a. £360 is

Question

Use the information in Figure 21.1 to answer the following questions a. £360 is worth $226.98 (Round your answer to 2 decimal places. (e.g., 32.16)) b. £360 is worth SF 213.79 Therefore, you would rather have 100 British Pounds than 100 Swiss Francs(Round your answer to 4 decimal places. (e.g., 32.1616)) C. The cross-rate for Swiss francs in terms of British pounds is SFIE 1.46. The cross-rate for British pounds in terms of Swiss francs is /SF places. (e.g., 32.1616) 0.69 (Round your answers to 4 decimal Hints References eBook & Resources

Explanation / Answer

Okay, the currencies are like this -

British Pound (BP) 1 = $1.5861

or, $1 = BP 0.6305

a) If I use $1.5861 -

1 BP = $1.5861

so, BP 360 = 360 x $1.5861 = $570.996 or $571.00 (I think you divided it with $1.5861 or multiplied it with $0.6305, i.e., did the opposite)

If I use $0.6305 -

BP 360 = 360 / 0.6305 = $570.98 (So slight rounding off difference)

b) 1 SF = $1.0617

Also, BP 360 = $570.996

So, BP 360 = $570.996 / $1.0617 per SF = SF 537.8129 (Four decimal places)

c) BP 1 = $1.5861

$1 = SF 0.9419

BP1 = $1.5861 x SF 0.9419 / $1 = SF 1.4939

SF 1 = BP 1 / 1.4939 = BP 0.6694

Hope this helps.

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