Question: Last year a dollar was equal to 7 Swedish kronor, and a Polish zloty was equal to $.40. Today, the dollar is equal to 8

Last year a dollar was equal to 7 Swedish kronor, and a Polish zloty was equal to $.40. Today, the dollar is equal to 8 Swedish kronor and a Polish zloty is equal to $.44. By what percentage did the cross exchange rate of the Polish zloty in Swedish kronor (that is, the number of kronor that can be purchased with one zloty) change over the last year?

Step by Step Solution

★★★★★

3.33 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Old rates last year Spot rate of kronor 1007 142857 Spot rate of zlot... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1159-B-F-F-M(8462).docx

120 KBs Word File

Students Have Also Explored These Related Finance Questions!

As a result of a significant slowdown in economic activity, your client the Bronx Bombers, LLC needs additional capital to maintain the property and make payments on the mortgage. The LLC has four...

The New Zealand dollar's spot rate was equal to $.60 last month. New Zealand conducts much international trade with the U.S. but that the financial (investment) transactions between the two countries...

Assume that last year the Australian dollar was trading at $.5527, the Mexican peso at $.1102, and the British pound was worth $1.4233. By this year the U.S. dollar value of an Australian dollar was...

Last year, the French marketing subsidiary of International Pharmaceuticals Corporation (IPC), a New Jerseybased drug manufacturer, earned 700,000 euros. This year, partly due to a weaker U.S....

Movements in Cross-Exchange Rates. Last year a dollar was equal to 7 Swedish kronor, and a Polish zloty was equal to $.40. Today, the dollar is equal to 8 Swedish kronor, and a Polish zloty is equal...

Movements in Cross Exchange Rates Last year a dollar was equal to 7 Swedish kronor, and a Polish zloty was equal to $.40. Today, the dollar is equal to 8 Swedish kronor, and a Polish zloty is equal...

1. Impact of Economy on Exchange Rates. Assume that inflation is zero in the United States and in Europe, and will remain at zero. U.S. interest rates are presently the same as in Europe. Assume that...

29. Movements in Cross Exchange Rates Last year a dollar was equal to 7 Swedish kronor, and a Polish zloty was equal to $.40. Today, the dollar is equal to 8 Swedish kronor, and a Polish zloty is...

Use a reduction formula to determine limit (x)^3 sinx .dx

Costs are important to any manager. Managers focus on trying to keep costs as low as possible. There are many ways to report costs, such as the total amount that is often seen on the income statement...

Who developed the theory that employees are motivated by "motivators" (higher-level needs) instead of maintenance factors (lower-level needs)

A highly simplified alphabetical list of trial balance accounts and their normal balances for the month ended March 31, 2014, follows. Accounts Payable ...................... 8 Accounts Receivable...

Sara Pacheco is a sophomore in college and earns a little extra money by making beaded key ring accessories. She sells them on Saturday mornings at the local flea market. Sara charges $5 per unit and...

Kim Company bought 30% of the shares of Phelps, Inc., at the start of 2016. Kim paid $10 million for the shares. Thirty percent of the book value of Phelps's net assets is $8 million, and the...

Head-Gear Company produces helmets for bicycle racing. Currently, Head-Gear charges a price of $230 per helmet. Variable costs are $80.50 per helmet, and fixed costs are $1,255,800. The tax rate is...

An alphabetical list presenting the accounts and balances for Kens Cleaners on June 30, 2014, follows. All the accounts have normal balances. Accounts Payable .............. $ 30,840 Accounts...

Plan how to control resources on your current project. List the specific actions you will take.

a. Explain how the existence of imperfect markets has led to the establishment of subsidiaries in foreign markets. b. If perfect markets existed, would wages, prices, and interest rates among...

a. Do you think the acquisition of a foreign firm or licensing will result in greater growth for an MNC? Which alternative is likely to have more risk? b. Describe a scenario in which the size of a...

a. What factors cause some firms to become more internationalized than others? b. Offer your opinion on why the Internet may result in more international business.

Taussig Technologies Corporation (TTC) has been growing at a rate of 18% per year in recent years. This same growth rate is expected to last for another 2 years, then decline to gn = 6%. If D0 =...

2. Which of the following is wrong with the explanation of dual currency bonds? (5 points) Answer: (You can answer multiple times) Among them, monetary bonds are bonds in which the currency of bonds...

National Rentals has $59,000 shares of common stock outstanding at a market price of $36.00 a share. The common stock just paid a $1.64 annual dividend and has a dividend growth rate 0f 2.8%. There...