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QUESTION

Currency Exchange Problem 1. Let $1 = .78 € How much would a 20,000 € automobile cost in US$ 2. From #1, let the $US appreciate by 5%, Now how much does the auto cost? 3. Let $1 = .78 € and $1 = 6.

Currency Exchange Problem

1. Let $1 = .78 €

How much would  a 20,000 € automobile cost in US$

2. From #1, let the $US appreciate by 5%,

Now how much does the auto cost?

3. Let $1 = .78 € and $1 = 6.3 CNY (Chinese Yuan Renminbi)

How many CNY will be purchased for 1 €

4. Given #3, how many € would it cost for a European importer to purchase 300 Chinese computers @ 3000 CNY per computer?

5. From #4, let there be a 5% appreciation in the CNY against the Euro,

Now how much do the computers cost in €?

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