Asked by Jibreel Ahmad on Jul 11, 2024
Verified
While on vacation in Europe you notice that a tablet computer is selling for 600 euros in France and for 533 pounds in Britain. You also know that the exchange rates are .75 euros per dollar and .65 British pounds per dollar. Where is the number of dollars you would pay for the tablet lower? How many dollars would you have to pay to buy it there?
Exchange Rates
The value of one currency for the purpose of conversion to another, reflecting the market's opinion of the relative worth of currencies.
Euros
The official currency of 19 out of 27 European Union countries, which is also used in some non-EU countries.
Pounds
A unit of weight commonly used in the United States and British imperial system, equivalent to 0.453592 kilograms, or a unit of currency in the United Kingdom and some other countries.
- Compute and elucidate exchange rates and their impact on decisions related to international purchases.
Verified Answer
BM
Brittany MacKeiganJul 18, 2024
Final Answer :
It costs less in France where it would take 800 dollars to buy 600 euros. It would take 820 dollars to buy enough pounds to buy the computer.
Learning Objectives
- Compute and elucidate exchange rates and their impact on decisions related to international purchases.