A U.S. company wants to buy its televisions from a Chinese company. The Chinese company sells its TVs for 1,200 yuan each. The current exchange rate between the U.S. dollar and the Chinese yuan is $1 = 6 yuan. How many U.S. dollars will the U.S. company have to convert into yuan to pay for each television? A. $1,200 B. $7,200 C. $200 D. $100
A U.S. company wants to buy its televisions from a Chinese company. The Chinese company sells its TVs for 1,200 yuan each. The current exchange rate between the U.S. dollar and the Chinese yuan is $1 = 6 yuan. How many U.S. dollars will the U.S. company have to convert into yuan to pay for each television? A. $1,200 B. $7,200 C. $200 D. $100
Chapter6: An Introduction To The Foreign Exchange Market And The Balance Of Payments
Section: Chapter Questions
Problem 1E
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A U.S. company wants to buy its televisions from a Chinese company. The Chinese company sells its TVs for 1,200 yuan each. The current exchange rate between the U.S. dollar and the Chinese yuan is $1 = 6 yuan.
How many U.S. dollars will the U.S. company have to convert into yuan to pay for each television?
$1,200
$7,200
$200
$100
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