Hi,
does anyone have any tips on how to accurately calculate the currency when given the exchange rate for the equity section?
I keep getting confused on whether to multiply the amount by the exchange rate or multiply it depending on whether it's a direct quote or indirect quote.
Example - see question # 10a chapter 36
In the book they write 425x0.9810 whereas I divided 425 by 0.9810.
Thanks!作者: yalo 时间: 2011-7-11 19:37
one way is to try and cancel out the units so that you are left with the currency you want.
ex:
if you are given 100EUR and want to get USD and are given $1.40/1EUR then you would do 100EUR * $1.40/1EUR = $140 (the EUR cancels). you would divide if you started in USD and wanted to end up with USD.
