Spot Forex quote: EUR/USD = 1.06. A friend from France has asked you to purchase a Bobcat baseball cap on their behalf and they will pay you back. Your friend plans to deposit EUR into your Venmo account and then Venmo will translate into USD for you without transaction costs. If the Bobcat hat you are buying for your French friend costs $21, how many EUR will your friend need to send via Venmo? A) your friend will need to send 19.81 EUR. B) your friend will need to send 21 EUR. C) your friend will need to send 22.26 EUR. D) There is not enough information to calculate.

Spot Forex quote: EUR/USD = 1.06. A friend from France has asked you to purchase a Bobcat baseball cap on their behalf and they will pay you back. Your friend plans to deposit EUR into your Venmo account and then Venmo will translate into USD for you without transaction costs. If the Bobcat hat you are buying for your French friend costs $21, how many EUR will your friend need to send via Venmo? A) your friend will need to send 19.81 EUR. B) your friend will need to send 21 EUR. C) your friend will need to send 22.26 EUR. D) There is not enough information to calculate.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter27: Multinational Financial Management

Section: Chapter Questions

Problem 8P

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