Currency Exchange

Assignment Requirements

 

BUSINESS ASSIGNMENT #1 – INSTRUCTIONS
This Currency Exchange assignment is 1-page minimum, 2-page maximum, worth 50 points.

To Begin:

This is an Internet Browser assignment (you will not find the answer in any one paragraph in the textbook), you need to search the Internet for supportive material on this topic.
You may choose a new/magazine article (or .com) for support material (give credit to the source you take the information from).
Writing your Assignment:

First, describe in your own words the significance and differences in foreign currency exchange rates.
Secondly, explain how to convert one form of currency into another, and which is worth more in value. For example, consider buying a iPhone or iPad in Vietnam (dong), or France (euro) or Mexico (peso), Japan (yen), explain in writing how do you convert US dollars into that currency.
Consider having a business in a different country, how would you convert your payroll into the prevailing currency.
*Note: Business Assignment #1 does not require a selected newspaper or magazine article. Choosing to submit an article relating to the assignment is completely optional.

Don’t read too much into this! The question asked you to show how to convert one form of currency into another.

Most common answer submitted: telling me to take it to the bank or currency exchange center, students, this tells me where not how.

Consider a US traveler in France would have to pay $152.38 Euros for a product, ($152.38 EU x Exchange Rate (1.3125) = $199.9987 or simply $200 US dollars. More simplified: (EU x Exch Rate) = US Dollars.
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These are simple calculations we can perform ourselves without the aid of a currency exchange bank or accessing an internet website to use their converter. With today’s technology iPhones, Droids, iPads, I can download an application even use my iPhone or Smart Phone to compute the value.
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If I was in LA or Mexico and had checked on the exchange rate prior, the rate could change however, the calculation would remain the same.

Due Date:

Written Business Assignment #1 is due on or before the scheduled Midterm Exam date. It is understood that if the student misses turning in this Business Assignment (BA#1) by the Mid Term Date noted, the assignment is still due prior to submitting BA #2. Points will be deducted accordingly for late submission.

Written BA #1 must be completed before submitting BA #2.

 

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