Use the information below to answer the following questions. (Enter your answer

Question

Use the information below to answer the following questions. (Enter your answer as directed, but do not round intermediate calculations.)

Requirement 1:

If you have $220, how many Polish zlotys can you get? (Do not include the Polish zlotys sign (Z). Round your answer to 2 decimal places (e.g., 32.16).)

Requirement 2:

How much is one euro worth in U.S. dollars? (Round your answer to 4 decimal places (e.g., 32.1616).)

Requirement 3:

If you have 4.90 million euros, how many dollars do you have? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Round your answer to the nearest whole dollar amount (e.g., 1,234,567).)

Requirement 4: Which is worth more, a New Zealand dollar or a Singapore dollar?

Requirement 5: Which is worth more, a Mexican peso or a Chilean peso?

Requirement 6:

How many Swiss francs can you get for a euro? (Round your answer to 4 decimal places. (e.g., 32.1616).)

(b) What do you call this rate? Spot Rate, Forward rate, or Cross Rate

U.S. $ Equivalent Currency per U.S. $ Polish Zloty .2986 3.3486 Euro 1.2333 .8108 Mexican Peso .0752 13.2990 Swiss Franc 1.0267 .9740 Chilean Peso .002071 482.80 New Zealand Dollar .8085 1.2368 Singapore Dollar .8009 1.2486

Explanation / Answer

1. 220 * 3.3486 = 736.6920 zlotys

2. $ 1.2333

3. $ 6043170

4. New Zealand

5. Mexican

6. 1 euro * (1.2333 dollar/euro) * (0.9740 swiss franc/dollar) = 1.2009 swiss francs

It's not a forward rate; I would call it a spot rate, since you are calculating across two different conversion rates it's possible your book calls it a cross rate, depends upon your specific course

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