Asked by Brandt Cortina on Jul 03, 2024
Verified
If 1 dollar is equal to 5 Swedish kroner,the dollar price of a kroner is
A) $.20.
B) $1.20.
C) $.50.
D) $.05.
E) $5.00.
Swedish Kroner
The official currency of Sweden, often represented by the code SEK.
Dollar Price
Dollar price refers to the cost or value of a good or service expressed in terms of the amount of U.S. dollars required to purchase it.
- Understand the correlation between currency prices and their valuation in the foreign exchange market.
Verified Answer
OO
Osmar OrellanaJul 03, 2024
Final Answer :
A
Explanation :
If 1 dollar is equal to 5 kroner, then the price of 1 kroner in dollars is found by dividing 1 by 5.
1/5 = 0.20, so the dollar price of a kroner is $.20.
1/5 = 0.20, so the dollar price of a kroner is $.20.
Learning Objectives
- Understand the correlation between currency prices and their valuation in the foreign exchange market.