Assume the direct quote for the Australian dollar is 1.050 while it is .837 for New Zealand dollar.What is the cross-rate between the Australian dollar and the New Zealand dollar?
A) A$.879 = NZ$1
B) A$.797 = NZ$1
C) A$1.036 = NZ$1
D) A$1.254 = NZ$1
E) A$1.186 = NZ$1
Correct Answer:
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