You have $30,000 to invest in the stock of a British company trading at $\le$40 a share. The spot rate is $\le$0.5/$. How many shares can you purchase?

Question

Quizplus · Accepted Answer

To determine how many shares you can purchase, you need to first convert your $30,000 to British pounds.

$30,000 ÷ 1.005 = £29,850

Then, divide the amount of pounds you have by the price per share in pounds.

£29,850 ÷ F1F1F1S1F1F1F1040 = 375.

Therefore, you can purchase 375 shares.

You Have $30,000 to Invest in the Stock of a British