14. Where should Michael buy his TV, in the UK at 250 (GBP) or in France at 299 Euros?The exchange rate is 1.22 Euros per GBP.

15. Your company had $1,0000,000 pesos in profit in its operations in Mexico.The exchange rate today shows that the Mexican peso has appreciated against the USD. You are exchanging your profits into US Dollars today.Is the new exchange rate good news or bad news for the company? Explain your answer.

16. Annie wants to go on vacation next month.She has saved $1,200 Canadian Dollars to use towards her vacation. Which option would give Annie a better deal for her money?Mexico or the U.S.? She looks up the Canadian dollar exchange rates and they are as follows: 0.75 USD per CAD 14.70 MXN per CAD Explain your answer