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AnnZ [28]
3 years ago
5

Horace is seeking to exchange money in preparation for his trip to Uruguay. He will need 5,000 Uruguayan pesos, and the exchange

rate between the US dollar and the Uruguayan peso is 1:19.924. The currency exchange agent Horace is using requires that a 5% surcharge be paid when converting currency. Taking the surcharge into account, how many US dollars will it take Horace to get 5,000 pesos? Round to the nearest cent.
a. $237.45
b. $249.05
c. $250.95
d. $263.50
Please select the best answer from the choices provided A B C D
Business
1 answer:
STatiana [176]3 years ago
7 0

Answer:

d. $ 263.50

Explanation:

The Exchange  rate is 1 dollar = 19.924 Uruguayan Peso.

We need to buy 5000 Uruguayan pesos but the agent requires a comision of  a 5%  when converting currency, so really we will need to buy:

5,000 Uruguayan pesos + 5,000 Uruguayan pesos* 0.05 = 5,250 Uruguayan pesos.

Now if we apply the given exchange rate we will obtain the amount of US Dollars we need:

x U$S = (5,250 Ur.$)/(19,924 Ur.$/U$S)= 263,50 U$S needed

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$500,000 ÷ 12,100 sq. yds. = $41.32 per sq. yd

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7 0
1 year ago
Suppose the economy is operating in long-run equilibrium and a positive demand shock hits. We expect a short-run increase in rea
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Answer:

The correct answer is: an expansionary gap; decrease the money supply.

Explanation:

An expansionary gap is when genuine output surpasses potential output. At the end of the day, the economy is incidentally working over its long-run potential as estimated by real GDP.

3 0
3 years ago
Equity Method for Stock Investment On January 4, Year 1, Ferguson Company purchased 108,000 shares of Silva Company directly fro
r-ruslan [8.4K]

Answer:

a)

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Dr Investment in Silva Company 5,184,000

    Cr Cash 5,184,000

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Dr Cash 104,400

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December 31, year 1, net income reported by Silva Company ($971,000 x 36%)

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b)

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Explanation:

Since Ferguson exercises significant influence over Silva Company, they must record the investment using the equity method.

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3 years ago
The compressor division at Norco Corporation can buy the coils it requires either from the company's coil division or from the m
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Answer:

c.

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cestrela7 [59]

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Inseparability means that the consumer does not see the service and provider of the service as varied things. Because of this inseparable concept the business in service industry concentrates on the quality of the people providing the service.

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