The Figure Given Below Depicts the Foreign Exchange Market for British

question 74

Multiple Choice

The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.Figure 22.2

-How many U.S. dollars does a U.S. importer need to pay for 100,000 yen worth of stereo equipment when the price of 1 yen is $0.008?

• A)$125 million
• B)$1.25 million
• C)$80,000
• D)$1,250
• E)$800

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Definitions:

Currency Symbol

A graphical sign used as a shorthand for a currency's name, especially in reference to amounts of money.

Data Type

The classification of data based on the kind of value it holds, dictating how it can be used and stored.

Percent

A unit of measure equal to one hundredth of a total; a way to express fractions as parts of a hundred.

Format Property

A specification that determines the appearance or layout of elements within a software application or document.