1. You look in the newspaper and see the following FX rates for the Canadian Dollar: 0.78889 (in US $) and 2676 (Per US $). On a trip to Canada, you purchase an item for 1,000 Canadian Dollars. How much does this cost you in US dollars?
2. You look in the newspaper and see the following FX rates for the British pound (): 6 (in US $) and 0.625 (Per US $). If you had $100, how many pounds could you exchange this for?