The table below provides either a direct or indirect quote for a given foreign currency unit,and the related units of that foreign currency.
Required:
Complete the table,indicating the amount of U.S.Dollars that is the equivalent of the foreign currency shown,based on the direct or indirect quote provided.
Definitions:
Daily Interest Rate
The interest rate expressed as a daily percentage, indicating the amount of interest charged or earned each day.
Collection Float
The time delay between when a check is deposited and when the funds become available in the account.
Cheques
Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or the person named on it.
Lockbox System
A lockbox system is a service offered by banks to companies for the receipt of payment from customers, under which the payments are directed to a special post office box rather than to the company.
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