Determine exchange rate between euro and british pound

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Reference no: EM1367333

1) Assume the United State dollar price of a British pound is $1.50; the dollar price of a euro is $1; a hotel room in London, England, costs 120 British pounds; and a comparable hotel room in Hanover, Germany, costs 200 euro.

a. Which hotel room is cheaper for a U.S. tourist?
b. What is the exchange rate between the euro and the British pound?

2) Suppose the U.S. dollar price of the Canadian dollar is $.75. How many Canadian dollars will it take to buy a set of dishes selling for $60 in Detroit, Michigan?

Reference no: EM1367333

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