Criselda travelled to Kota Kinabalu in Malaysia. At the airport, she saw the following information at the currency exchange counter. Currency Exchange - Malaysian Ringgit (MYR) Currency Buy 3.07 4.25 1 Singapore Dollar (SGD) 1 US Dollar (USD) Sell 3.22 4.45 This means the currency exchange counter would buy USD from a traveler and in exchange return MYR at ate of 1 USD = 4.25 MYR. There is no commission charged. Criselda changed 460 SGD to MYR. a) Calculate the amount of MYR that Criselda received. b) Wile in Kota Kinabalu, Criselda spent 440 MYR. She returned to the currency exchange counter and changed the remainder of her MYR into USD. Calculate the amount of USD she received.
Criselda travelled to Kota Kinabalu in Malaysia. At the airport, she saw the following information at the currency exchange counter. Currency Exchange - Malaysian Ringgit (MYR) Currency Buy 3.07 4.25 1 Singapore Dollar (SGD) 1 US Dollar (USD) Sell 3.22 4.45 This means the currency exchange counter would buy USD from a traveler and in exchange return MYR at ate of 1 USD = 4.25 MYR. There is no commission charged. Criselda changed 460 SGD to MYR. a) Calculate the amount of MYR that Criselda received. b) Wile in Kota Kinabalu, Criselda spent 440 MYR. She returned to the currency exchange counter and changed the remainder of her MYR into USD. Calculate the amount of USD she received.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:**Currency Exchange Lesson**
Criselda traveled to Kota Kinabalu in Malaysia. At the airport, she saw the following information at the currency exchange counter:
**Currency Exchange – Malaysian Ringgit (MYR)**
| Currency | Sell | Buy |
|----------------------|------|-----|
| 1 Singapore Dollar (SGD) | 3.22 | 3.07 |
| 1 US Dollar (USD) | 4.45 | 4.25 |
This means the currency exchange counter would buy USD from a traveler and in exchange return MYR at a rate of 1 USD = 4.25 MYR. There is no commission charged.
Criselda changed 460 SGD to MYR.
a) Calculate the amount of MYR that Criselda received.
b) While in Kota Kinabalu, Criselda spent 440 MYR. She returned to the currency exchange counter and changed the remainder of her MYR into USD. Calculate the amount of USD she received.
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