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5. You are given the following pair wise exchange rates: 1 = $1.1979 and 1 = $1.3125. (Here are the same exchange rates in a
5. You are given the following pair wise exchange rates: 1 = $1.1979 and 1 = $1.3125.
(Here are the same exchange rates in a different format: $1.1979/ and $1.3125/.)
(a) Calculate the cross-rate of euros per pound. (10 points)
(b) Calculate the cross-rate of pounds per euro. (10 points)
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