Assignment:
Q1. If British pounds sell for $1.50 (U.S.) per pound, what should dollars sell for in pounds per dollar?
Q2. Suppose that 1 Swiss franc could be purchased in the foreign exchange market for 60 U.S. cents today. If the franc appreciated 10 percent tomorrow against the dollar, how many francs would a dollar buy tomorrow?
Q3. Suppose the exchange rate between U.S. dollars and the Swiss franc was SFr1.6 $1, and the exchange rate between the dollar and the British pound was £1 $1.50. What was the exchange rate between francs and pounds?
Provide complete and step by step solution for the question and show calculations and use formulas.