Foreign Exchange Explained a Practical Treatment of the Subject for the Banker
The book Foreign Exchange Explained a Practical Treatment of the Subject for the Banker was written by author Escher Franklin Here you can read free online of Foreign Exchange Explained a Practical Treatment of the Subject for the Banker book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Foreign Exchange Explained a Practical Treatment of the Subject for the Banker a good or bad book?
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Explanation. — Reduce pounds, shillings, and pence to decimal as explained in Example 5. Multiply the decimal by rate of exchange ($4. 96!), which gives amount in dollars and cents United States money. Note. — See Example 7 showing conversion of same amount United States money ($2, 609. 23), into English money, which verifies correctness of figures in Example 6. Example 7 Conversion : United States Money into English Money. To find the equivalent in English money of $2, 609. 23 (United States m...oney) at rate of exchange, $4, 965 per £. Operation: Rate 4. 9650)2609. 2300(525. 524 2482. 50 20 126. 730 s. 10. 480 99-3°o Li 27. 4300 d. 5. 760 24-8250 2. 60500 Answer — £525 10s. 6d. 2. 48250 Note. — See Example 6 show- , 122500 ing conversion of same amount English money (£525 10s. 6d. ) into — ■ United States money, which veri- 232000 fies correctness of figures in Ex- 198600 ample 7. 334°° APPENDIX 185 Explanation. — Divide amount in dollars and cents (United States money) by the rate of exchange per pound, and it gives the amounts in pounds and decimal of pound.
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