Question
Today, the exchange rate between the US dollar and Bananaland's currency is $1.000=BBB4.194, and between the US dollar and Cherryland's currency is $1.000=CCC7.021. Calculate the
Today, the exchange rate between the US dollar and Bananaland's currency is $1.000=BBB4.194, and between the US dollar and Cherryland's currency is $1.000=CCC7.021.
Calculate the implied cross-rate between Bananaland's and Cherryland's currencies, expressed as the amount of CCC per one unit of BBB.
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Introductory Course On Financial Mathematics
Authors: M V Tretyakov
1st Edition
1908977388, 978-1908977380
