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Suppose that the currency values are linked to gold and silver. An ounce of gold can be exchanged for 16 US dollars (USD) or 13.4026

Suppose that the currency values are linked to gold and silver. An ounce of gold can be exchanged for 16 US dollars (USD) or 13.4026 British pounds (GBP). Similarly, an ounce of silver is convertible to 0.6694 British pounds or 0.1252 Swiss francs (CHF). Find the exchange rate between the US dollar and the Swiss franc.

a.

CHF 0.21/USD

b.

CHF 0.16/USD

c.

CHF 0.07/USD

d.

CHF 0.22/USD

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