A laptop costs 1300 in the united states the same laptop, Financial Management

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A laptop costs 1300 in the united states the same laptop

A laptop costs $1,300 in the United States. The same laptop costs 930 British pounds.

a) If purchasing power parity holds, what is the spot exchange rate between the British pound and the dollar?

b) According to the spot rate calculated in (a) how many British pounds would you receive for every U.S. dollar exchanged?

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