Use the information below to answer the questions that follow. U.S. $ EQUIVALENT

Question

Use the information below to answer the questions that follow.

U.S. $ EQUIVALENT CURRENCY PER U.S. $

U.K. Pound (£) 1.5964 .6264

Canada dollar 1.0081 .9920

Which would you rather have, $100 or £100? 100 pounds

Which would you rather have, $100 Canadian or £100? 100 pounds

What is the cross-rate for Canadian dollars in terms of British pounds? (Do not include the Canadian dollar sign, C$. Round your answer to 4 decimal places, e.g., 32.1616.)

Cross-rate C$ /£ ______

What is the cross-rate for British pounds in terms of Canadian dollars? (Do not include the pound sign, £. Round your answer to 4 decimal places, e.g., 32.1616.)

Cross-rate £ /C$ _______

Explanation / Answer

U.S. $ EQUIVALENT CURRENCY PER U.S. $ U.K. Pound (£) 1.5964 0.6264 Canada dollar 1.0081 0.992 1 US$ = 0.6264 UK Pound = 0.992 C $ Cross Rate C$/Pound 0.992/0.6264 1.5837 Cross rate Pound/C$ 0.6264/0.992 0.6315

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