Suppose a US importer wants to purchase goods from a Dutch exporter at a cost of €512,100 billed in euros. The US importer will contact the US bank (where they have an account in US dollars) and ask for the exchange rate the bank gives as €1.0242/$1.00. The importer accepts this price, so his bank sends ________ to the importer's account. calculate.

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To determine how much the US importer needs to pay in dolla... View the full answer