Suppose the direct foreign exchange rates in U.S. dollars are
1 British pound = $ 1.20
1 Canadian dollar = $ 0.68
Required:
What are the indirect exchange rates for the British pound and the Canadian dollar?
How many pounds must a British company pay to purchase goods costing $10,000 from a U.S. company?
How many U.S. dollars must be paid for a purchase costing 5,900 Canadian dollars?
Thanks
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