Use the information below to answer the questions that follow. Which would you r

Question

Use the information below to answer the questions that follow. Which would you rather have, $100 or pound 100? Which would you rather have, $100 Canadian or pound 100? What is the cross-rate for Canadian dollars in terms of British pounds? (Do not include the Canadian dollar sign, C$. Round your answer to 4 decimal places, e.g., 32.1616.) What is the cross-rate for British pounds in terms of Canadian dollars? (Do not include the pound sign, pound. Round your answer to 4 decimal places, e.g., 32.1616.)

Explanation / Answer

Since 1 pound = 0.6384 USD, it is better to have 100 USD as value of 100 pounds = 100 * 0.6384 = 63.84 USD

Since 1 CAD = 0.9803 USD,value of 100 CAD = 100 * 0.9803 = 98.03 USD

Value of 100 pounds = 63.84 USD. SO it is better to have 100 CAD.

CAD / GBP = CAD / $ * $ / GBP = 0.9803 * 1.5664 = 1.5355

GBP / CAD = 1 / ( CAD / GBP) = 1 / 1.5355 = 0.6512

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