Asked by Yasmina Vaughn on Sep 24, 2024
Verified
An individual in the US wants to buy office equipment from England which costs 2,000 pounds.If the exchange rate is 1pound=$1.9,how much will the office equipment cost him in dollar terms?
A) $2,000
B) $2,800
C) $3,800
D) $1052
Exchange Rate
the price at which one currency can be exchanged for another, influencing international trade and investment.
- Calculate the financial outlay for goods in one currency, referencing the exchange rate and their cost in an alternate currency.
Verified Answer
KB
Kyndall Brewer3 days ago
Final Answer :
C
Explanation :
To convert pounds to dollars, we need to multiply the number of pounds by the exchange rate:
2,000 pounds * $1.9/pound = $3,800
Therefore, the cost of the office equipment in dollar terms is $3,800.
2,000 pounds * $1.9/pound = $3,800
Therefore, the cost of the office equipment in dollar terms is $3,800.
Learning Objectives
- Calculate the financial outlay for goods in one currency, referencing the exchange rate and their cost in an alternate currency.