Foreign Exchange Explained a Practical Treatment of the Subject for the Banker
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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.
What to read after Foreign Exchange Explained a Practical Treatment of the Subject for the Banker?
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To quickly assess the difficulty of the text, read a short excerpt:
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.
What to read after Foreign Exchange Explained a Practical Treatment of the Subject for the Banker?
You can find similar books in the "Read Also" column, or choose other free books by Escher Franklin to read onlineMoreLess
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