An exchange rate is the price of one country’s currency expressed in another country’s currency. Suppose an A

An exchange rate is the price of one country’s currency expressed in another country’s currency. Suppose an An American investor

 

answer:

One pound = $ 1.9250, One Australian dollar =$ 0.8220 and one Australian dollar = $ 1.9250 * $ 0.8220 = 1.58235 pound.

Hungry Whale Electronics Company ‘s cost of stereos = 124 euro = 124 * $1.4770 = $183.148 and selling price = 99 pounds = 99 * $ 1.9250= $190.575, and profit = $190.575 – $ 183.148 = $ 7.427 = $ 7.43 or answer is second one.

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