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29 September, 02:51

On January 1 st, you make plans to travel to Switzerland the following summer. The direct quote for Swiss francs is $0.30. Since it will be a short trip, you believe $3000 in spending money will be sufficient. On June 1 st, the direct quote for Swiss francs is $0.40. As a result, How much Swiss francs will buy your $3000.

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Answers (2)
  1. 29 September, 02:57
    0
    On January 1st, the $3,000 could buy 10,000 Swiss francs (3,000/0.3).

    On June 1st, the $3,000 would buy 7,500 Swiss francs (3,000/0.4).

    Explanation:

    On January 1st, each Swiss francs could only purchase $0.30 while on June 1st, each Swiss francs could purchase $0.40.

    These show that the Swiss francs had appreciated in value relative to the US Dollars with a positive change of 33%. Therefore, the dollar had weakened against the Swiss francs by the same rate.
  2. 29 September, 03:18
    0
    7500 Swiss francs

    Explanation:

    Working

    January 1, Swiss francs = $0.3

    $3000 will by 3000/0.3 = 10,000 Swiss francs.

    June 1, Swiss Francs = $ 0.4

    $3000 will buy 7500 Swiss francs.

    This also mean that in January 3.33 Swiss francs will buy 1 $

    In June 1, 2.5 Swiss francs will buy one dollar.

    This shows that Swiss francs has appreciated in value against dollar over the months
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