MONEY

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# MONEY - PowerPoint PPT Presentation

## MONEY

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1. MONEY This lesson will teach how to use exchange rates.

2. What is an Exchange Rate? In finance, the exchange rates (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. It is the value of a foreign nation’s currency in terms of the home nation’s currency. http://en.wikipedia.org/wiki/Exchange_rate

3. Step 1- Pick the foreign currency you would like to exchange • United Kingdom Pound • Mexican Pesos • Canadian Dollar • Japanese Yen • European Euro

4. Step 2- Figure out the Exchange Rate If you are not given the exchange rate then you can find it on the internet by googling: Exchange Rate.

5. Step 3- Determine How much you would like to exchange

6. Step 4- Plug into the following Formula • \$\$\$\$ * Exchange Rate= Amount of Foreign Currency • Examples: • \$150 * .73 = 109.50 Euros • 100 pounds = \$66

7. You want to have at least 100 pounds per week to spend in a four week vacation to the United Kingdom. How much do you need to save before your trip? • \$650 • \$400 • \$600 • \$550 Exchange Rate- 1 pound = \$1.5

8. How many American Dollars would I need to save up if I want to have 500 Euros when I visit Paris? • \$650 • \$700 • \$685 • \$635 The Exchange Rate is \$1.00 = .73 Euro

9. I Have \$300 to take on a trip to Canada, how many Canadian Dollars will I have to spend? A. 300 B. 285 C. 320 D. 310

10. If I have 5000 pesos, how many American Dollars would I have? • \$400 • \$425 • \$300 • \$375 Exchange Rate- 1 peso = .08 Dollars

12. You Got That Right!!