Asked by
Danielle Shropshire
on Dec 09, 2024Verified
Today, you can exchange $1 for 0.5087. Last week, 1 was worth $1.9582. How much profit or loss would you now have if you had converted 100 into dollars last week?
A) loss of ₤0.57
B) loss of ₤0.39
C) loss of ₤0.07
D) profit of ₤0.23
E) profit of ₤0.59
Profit or Loss
The difference between total revenues and total expenses of a business over a specific period of time.
Converted
This term usually refers to a change in the characteristics or use of an asset, such as converting a building for a different purpose or converting securities from one form to another, like bonds to stock.
- Acquire knowledge of the exchange rate and its role in converting currencies.
Verified Answer
GP
Learning Objectives
- Acquire knowledge of the exchange rate and its role in converting currencies.