Question
Suppose you are given the following quotes by a dealer: Brazilian Real/U.S. Dollar = 4.361 U.S. Dollar/Australian Dollar = 0.622 Chinese Yuan/U.S. Dollar = 6.085
Suppose you are given the following quotes by a dealer:
Brazilian Real/U.S. Dollar = 4.361
U.S. Dollar/Australian Dollar = 0.622
Chinese Yuan/U.S. Dollar = 6.085
You just landed back to USA from your 7-day trip to Brazil. You brought back 996 Brazilian Real from your trip. How many dollars will you get if you convert your Brazilian Real to US dollars?
Enter your answer rounded off to two decimal points.
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
