Exchange Rates
Suppose the direct foreign exchange rates in U.S. dollars are
1 British pound = $1.60 1 Canadian dollar = $0.74
Required
a.What are the indirect exchange rates for the British pound and the Canadian dollar?
b.How many pounds must a British company pay to purchase goods costing $8,000 from a U.S. company?
c.How many U.S. dollars must be paid for a purchase costing 4,000 Canadian dollars?
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