quiz_1_vb_solutions[1]

quiz_1_vb_solutions[1] - Version B Quiz 1 Fin 536 Fall 2010...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Version B Quiz 1 Fin 536, Fall 2010 Name__________________________________ 1 1. (7pts)Fill out the answers. a. To purchase 3,500 British Pounds (£), you need___5320_ __ U.S. dollars if the current spot exchange rate is S($/£)=1.52. b. In 2006, the U.S. was running a deficit of $750 on the current account and a surplus of $710 on the capital and financial accounts, ignoring the statistical discrepancy, the balance on the U.S. reserve account was __40_ ___. The amount of reserve in U.S. _ decreased _ _(increased/decreased) during the year. The balance of the U.S. Federal Budget was $___- 740_ __if Investment=$400 and Savings=$390. c. A deposit of €500 at Bank of America in _____London___ (London/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.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

quiz_1_vb_solutions[1] - Version B Quiz 1 Fin 536 Fall 2010...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online