Use the information below to answer the questions that follow. a. Which would yo

Question

Use the information below to answer the questions that follow.

a. Which would you rather have, $100 or £100?

(Click to select)100 Dollars100 Pounds

b. Which would you rather have, $100 Canadian or £100?

(Click to select)100 Canadian Dollars100 Pounds

c. What is the cross-rate for Canadian dollars in terms of British pounds? (Do not include the Canadian dollar sign (C$). Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)

Cross-rate            C$  / £

What is the cross-rate for British pounds in terms of Canadian dollars? (Do not include the pound sign (£). Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)

Cross-rate            £  / C$

Explanation / Answer

a) 100 pounds because 100 pounds = 155.42 dollars

b) 100 pounds because 100 CAD = 102.51 US dollars.

c) C$ / £ = 1.0251 / 1.5542 = 0.6596

d) £ / C$ = 1 / 0.6596 = 1.5161

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