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WK 5- Foreign Exchange Study Problems - DavidTrejo

# WK 5- Foreign Exchange Study Problems - DavidTrejo -...

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Foreign Exchange 1 Foreign Exchange Study Problems David Trejo January 8, 2010 FIN370/University of Phoenix Instructor: Niki Silver

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Foreign Exchange 2 22-1B. ( Converting currencies ) An American business needs to pay (a) 15,000 Canadian dollars, (b) 1.5 million yen, and (c) 55,000 Swiss francs to businesses abroad. What are the dollar payments to the respective countries? a) 15,000 Can. Dollars multiplied by 0.8439 = \$12,658.50 U.S. Dollars. b) 1.5 Million Yen multiplied by 0.004680 = \$7,020 U.S. Dollars. c) 55,000 Swiss Francs multiplied by 0.5140 = \$28,270 U.S. Dollars 22-2B. ( Converting currencies ) An American business pays \$20,000, \$5,000, and \$15,000 to suppliers in, respectively, Japan, Switzerland, and Canada. How much, in local currencies, do the suppliers receive? a) \$20,000 US Dollars in Japanese Yen is equal to: the indirect quote of 213.675 multiplied by 20,000 or 4,273,500 Japanese Yen. b)
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