Convert Each of the Following Indirect Quotes to Dollar Direct

question 90

Multiple Choice

Convert each of the following indirect quotes to dollar direct quotes:
$1 = 805 Vietnam dong
$1 = 2,349.6 Venezuelan bolivar
$1 = 7.0523 South African rand
$1 equals:

• A) 0.0012 dong; 0.0004 bolivar; 0.1418 rand
• B) 0.0072 dong; 0.004 bolivar; 0.1418 rand
• C) 0.0012 dong; 0.004 bolivar; 0.1478 rand
• D) 0.0022 dong; 0.0004 bolivar; 0.1418 rand

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Definitions:

Compounded Monthly

The method of determining interest that includes both the original principal sum and the interest that has previously been added up over past months.

Invest

Allocating resources, usually money, in the expectation of generating an income or profit.

Interest Rate

It is the amount charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal.

Compounded Quarterly

The process of calculating interest and adding it to the principal sum of a deposit or loan on a quarterly basis, leading to interest on interest.