On your summer study abroad program in Europe you stay travel from Paris to Moscow. You leave Paris with 2,000 euros (€ or EUR) in your belt pack. Wanting to exchange all of these for Russian rubles (R or RUB), you obtain the following quotes: 16,000.00 1.1946 Beginning your trip with euros Spot rate (USD-100 EUR or 5-) Spot rate (RUB-1.00 USD or RS) What is the Russian ruble to euro cross-over rate?

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
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On your summer study abroad program in Europe you stay an extra two weeks to
travel from Paris to Moscow. You leave Paris with 2,000 euros (€ or EUR) in your
belt pack. Wanting to exchange all of these for Russian rubles (R or RUB), you obtain
the following quotes:
16,000.00
1.1046
61.17
Beginning your trip with euros
Spot rate (USD-100 EUR or SE
Spot rate (RUB-1.00 USD or RS)
What is the Russian ruble to euro cross-over rate?
Transcribed Image Text:On your summer study abroad program in Europe you stay an extra two weeks to travel from Paris to Moscow. You leave Paris with 2,000 euros (€ or EUR) in your belt pack. Wanting to exchange all of these for Russian rubles (R or RUB), you obtain the following quotes: 16,000.00 1.1046 61.17 Beginning your trip with euros Spot rate (USD-100 EUR or SE Spot rate (RUB-1.00 USD or RS) What is the Russian ruble to euro cross-over rate?
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