A company in the euro zone exports its machinery to a Mexican company with contract amount of
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Question:
A company in the euro zone exports its machinery to a Mexican company with contract amount of 1,200,000. Assuming the exchange rates are quoted as:
$1.2180/ and Ps18.6558/$,
- (1) what is the cross rate between the euro and the Mexican peso?
- (2) what is the equivalent peso amount due from the Mexican company to the euro zone company?
Expert Answer:
To determine the cross rate between the euro and the Mexican peso Ps we can use the given exchange r... View the full answer
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