Question

Use the information below to answer the following questions. Polish Zloty Euro Mexican Peso Swiss Franc Chilean Peso New Zealand Dollar Singapore Dollar U.S. $ EQUIVALENT CURRENCY PER U.S. 2987 3.3476 1.2349 .8098 .0752 13.2991 1.0277 9730 .002071 482.80 .8085 1.2369 .8008 1.2487 a. If you have $240, how many Polish zloty can you get? (Do not include the Polish zloty sign (Z). Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much is one euro worth In U.S. dollars? (Do not round Intermediate culations and round your answer to 4 decimal places, e.g., 32.1616.) If you have 4.80 million euros, how many dollars do you have? (Do not round Intermediate calculations and round your answer to the nearest whole number, e.g., 1,234,567.) d. Which is worth more, a New Zealand dollar or a Singapore dollar? e. Which is worth more, a Mexican peso or a Chilean peso? f-1. How many Swiss francs can you get for a euro? (Do not round Intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.) 1-2. What do you call this rate?

Answer 1

a.Zolty received = Zolty per dollar*Number of dollars

= 3.3476*240

= 803.424

b.1 Euro = $1.2349

c.Dollars = 1.2349*4.80

= $5,927,520

d.A New Zealand dollar is worth more as it is equal to more US Dollars

e.A Mexican peso is worth more

f.Swiss fanc per euro = Franc/Dollar*(Dollar/Euro)

= 0.9730*1.2349

= 1.2015577

Cross rate

Answer 2

Use the information below to answer the following questions.

	U.S. $ EQUIVALENT	CURRENCY PER U.S. $
Polish Zloty	.2983	3.3526
Euro	1.2273	.8148
Mexican Peso	.0752	13.2983
Swiss Franc	1.0225	.9780
Chilean Peso	.002071	482.80
New Zealand Dollar	.8090	1.2361
Singapore Dollar	.8013	1.2479

a.	If you have $250, how many Polish zloty can you get? (Do not include the Polish zloty sign (Z). Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b.	How much is one euro worth in U.S. dollars? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)
c.	If you have 5.30 million euros, how many dollars do you have? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 1,234,567.)
d.	Which is worth more, a New Zealand dollar or a Singapore dollar?
e.	Which is worth more, a Mexican peso or a Chilean peso?
f-1.	How many Swiss francs can you get for a euro? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)
f-2.	What do you call this rate?

  

Explanation

Note: Intermediate answers are shown below as rounded, but the full answer was used to complete the calculation.

Using the quotes from the table, we get:

a.

$250(Z3.3526/$1) = Z838.15

b.

$1.2273

c.

€5,300,000/(€.8148/$) = $6,504,664

Alternatively, the question can be answered as:

€5,300,000($1.2273/€) = $6,504,690

Any difference is due to rounding in the exchange rate quote.

d.

New Zealand dollar

e.

Mexican peso

f.

(SF.9780/$)($1.2273/€) = 1.2003 SF/€

This is a cross rate.