Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

A British-made component costs 66 U.K. pounds. A company in the United States needs to buy these components and the current indirect quote indicates that

image text in transcribed A British-made component costs 66 U.K. pounds. A company in the United States needs to buy these components and the current indirect quote indicates that one dollar will buy 0.85 pounds. Ignoring transactions costs, how much will one component cost in U.S. dollars? Instruction: Type your answer in dollars, and round to two decimal places. E.g., if your answer is $77.77, you should type ONLY the number 77.77 , neither $77.77,78, nor 77.8 . Otherwise, Blackboard will treat it as a wrong

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions