Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hi rocky could you help me solve this please thanks After spending a week in Moscow you get an email from your friend in Japan.

hi rocky could you help me solve this please thanks

After spending a week in Moscow you get an email from your friend in Japan. He can get you a really good deal on a plane ticket and wants you to meet him in Osaka next week to continue your post-graduation celebratory trip. You have 450,000 rubles left in your money pouch. In preparation for the trip you want to exchange your Russian rubles for Japanese yen so you get the following quotes:

Spot rate on the ruble/dollar cross rate Rbl 30.96/$

Spot rate on the yen/dollar cross rate 84.02/$

Required

i) Calculate the yen/Russian ruble cross rate.

ii) Calculate how many yens you will obtain for your rubles

so what i have done is found the exchange rate between them by dividing 84.02/30.95=2.71 but i am abit lost as how to take this further .

your help will be much appreciated

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Principles Of Corporate Finance

Authors: Lawrence J. Gitman, Sean M. Hennessey

2nd Canadian Edition

0321452933, 978-0321452931

More Books

Students also viewed these Finance questions