quiz_solutions

# quiz_solutions - Version A Quiz 1 Fin 536 Fall 2010 Name...

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Version A Quiz 1 Fin 536, Fall 2010 Name__________________________________ 1 1. (7pts)Fill out the answers. a. To purchase 2,500 British Pounds (£), you need__3800_ ___ U.S. dollars if the current spot exchange rate is S(\$/£)=1.52. b. In 2006, the U.S. was running a deficit of \$730 on the current account and a surplus of \$700 on the capital and financial accounts, ignoring the statistical discrepancy, the balance on the U.S. reserve account was __30_ ____. The amount of reserve in U.S. _ decreased (increased/decreased) during the year. The balance of the U.S. Federal Budget was \$___720_ ____if Investment=\$400 and Savings=\$390. c. A deposit of 500 at Bank of America in _ San Francisco ____ (San Francisco/Paris) is considered as euro-currency. d. Before World War I, One ounce of gold can buy \$20.67 or French francs 310, then the exchange rate between francs and dollars was _\$20.67=FF310 or \$1=FF15.00_ __. e. Porsche sells Panamera--a new four-door luxury car at euro 144,000. If the exchange rate is \$1.2895 per euro, the price of the car would be \$_185,688_ __ in the U.S.

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