1. You just returned from some extensive traveling. You started your trip with $10,000 in your pocket. You spent 4,200 traveling throughout euroland, 3,600NKr in Norway, and £2,100 in the U.K. The exchange rates were $1 = .8150, 1NKr = $.1640, and £1 = $1.321. How many dollars did you have left by the time you returned to the U.S.?
$1,930.26
$1,482.13
$1,740.20
$2,112.57
$2,490.18
2. A firm has sales of $2,500,000. The cost of goods sold is equal to 65 percent of sales. The firm has an average inventory of $480,000. How many days on average does it take the firm to sell its inventory?
107.82 days
87.64 days
120.18 days
95.60 days 1
17.20 days