Assume the direct quote for the Australian dollar is 0.8643 while it is 0.7627 for New Zealand dollar.What is the cross-rate between the Australian dollar and the New Zealand dollar?
A) A$.8709 = NZ$1
B) A$.8824 = NZ$1
C) A$1.0362 = NZ$1
D) A$1.1254 = NZ$1
E) A$1.1332 = NZ$1
Correct Answer:
Verified
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