Question
(Spot exchange rates) An American business needs to pay (a) 9,800 Canadian dollars, (b) 2 million yen, and (c) 49,000 Swiss francs to businesses abroad.
(Spot exchange rates) An American business needs to pay (a) 9,800 Canadian dollars, (b) 2 million yen, and (c) 49,000 Swiss francs to businesses abroad. What are the dollar payments to the respective countries? The data for this problem are given in the following table:
COUNTRY | CONTRACT | $ / FOREIGN CURRENCY |
Canada-dollar | Spot | 0.8495 |
30-day | 0.8471 | |
90-day | 0.8454 | |
Japan-yen | Spot | 0.004686 |
30-day | 0.004711 | |
90-day | 0.004762 | |
Switzerland-franc | Spot | 0.5131 |
30-day | 0.5164 | |
90-day | 0.541 |
a. The dollar payment of 9,800 Canadian dollars is $_____. (Round to the nearest dollar.)
b. The dollar payment of 2 million yen is $_____. (Round to the nearest dollar.)
c. The dollar payment of 49,000 Swiss francs is $_____. (Round to the nearest dollar.)
(Spot exchange rates) A U.S. firm needs to pay 16,000 Swiss francs to a firm in Switzerland, how much is this in U.S. dollars? The data for this problem are given in the following table:
COUNTRY | CONTRACT | $ / FOREIGN CURRENCY |
Canada-dollar | Spot | 0.8411 |
30-day | 0.8389 | |
90-day | 0.8367 | |
Japan-yen | Spot | 0.004677 |
30-day | 0.004708 | |
90-day | 0.004762 | |
Switzerland-franc | Spot | 0.5155 |
30-day | 0.5187 | |
90-day | 0.537 |
The dollar payment of 16,000 Swiss francs is $_____. (Round to the nearest dollar.)
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