Use what you need of the following set of information to answer:

S₀ = $1.2151/ S₀ = 0.7371/$ S₀ = $1.3567/

Where: S = spot price = euro; = British pound;

1. If you want to know the spot value of the euro in terms of the British pound from the information given above, how would you find out? Show calculations

2. If you want to know the spot value of the British pound in terms of the euro from the information given above, how would you find out? Show calculations.